Black Maple Capital Management LP Buys New Shares in Merchants Bancorp (NASDAQ:MBIN)

Black Maple Capital Management LP purchased a new position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,557 shares of the company's stock, valued at approximately $640,000.

A number of other hedge funds also recently bought and sold shares of MBIN. Elser Financial Planning Inc acquired a new position in shares of Merchants Bancorp during the 4th quarter worth about $994,207,000. PL Capital Advisors LLC boosted its holdings in Merchants Bancorp by 3,547.0% in the fourth quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company's stock valued at $250,442,000 after purchasing an additional 6,678,788 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Merchants Bancorp by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company's stock valued at $46,211,000 after purchasing an additional 132,841 shares during the last quarter. Royce & Associates LP raised its holdings in Merchants Bancorp by 15.5% during the fourth quarter. Royce & Associates LP now owns 566,245 shares of the company's stock worth $20,651,000 after purchasing an additional 76,056 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Merchants Bancorp by 11.5% during the 4th quarter. American Century Companies Inc. now owns 474,904 shares of the company's stock worth $17,320,000 after buying an additional 48,881 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.

Merchants Bancorp Stock Up 1.9 %

Shares of NASDAQ:MBIN opened at $31.31 on Friday. Merchants Bancorp has a 1-year low of $27.25 and a 1-year high of $53.27. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The stock has a market cap of $1.44 billion, a P/E ratio of 4.96 and a beta of 1.31. The firm has a fifty day moving average price of $35.53 and a 200 day moving average price of $38.24.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $0.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.25 by ($0.32). The company had revenue of $287.20 million for the quarter, compared to analysts' expectations of $169.00 million. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. Sell-side analysts predict that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Friday, March 14th. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.09. Merchants Bancorp's dividend payout ratio is 7.35%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MBIN. Raymond James reiterated an "outperform" rating and set a $41.00 price target (down from $45.00) on shares of Merchants Bancorp in a research note on Tuesday, April 29th. Piper Sandler lifted their target price on Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Finally, Morgan Stanley decreased their target price on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th.

Merchants Bancorp Company Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.

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