23,876 Shares in Merchants Bancorp (NASDAQ:MBIN) Bought by Advisor Resource Council

Advisor Resource Council purchased a new stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,876 shares of the company's stock, valued at approximately $830,000. Advisor Resource Council owned approximately 0.05% of Merchants Bancorp at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Sowell Financial Services LLC bought a new stake in Merchants Bancorp during the 1st quarter worth about $318,000. Harbor Capital Advisors Inc. lifted its position in Merchants Bancorp by 26.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 6,641 shares of the company's stock worth $246,000 after buying an additional 1,402 shares in the last quarter. Matrix Trust Co lifted its position in Merchants Bancorp by 45.0% during the 1st quarter. Matrix Trust Co now owns 3,830 shares of the company's stock worth $142,000 after buying an additional 1,188 shares in the last quarter. GAMMA Investing LLC raised its holdings in Merchants Bancorp by 4,443.0% during the first quarter. GAMMA Investing LLC now owns 7,178 shares of the company's stock worth $266,000 after acquiring an additional 7,020 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Merchants Bancorp during the fourth quarter worth about $395,000. 24.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Raymond James Financial reiterated an "outperform" rating and set a $41.00 price objective (down previously from $45.00) on shares of Merchants Bancorp in a research note on Tuesday, April 29th. Wall Street Zen raised shares of Merchants Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Morgan Stanley dropped their price target on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th.

Merchants Bancorp Price Performance

MBIN stock traded up $0.08 during mid-day trading on Friday, hitting $31.39. The stock had a trading volume of 119,922 shares, compared to its average volume of 176,326. The company has a current ratio of 1.20, a quick ratio of 0.88 and a debt-to-equity ratio of 2.49. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $53.27. The firm has a market capitalization of $1.44 billion, a P/E ratio of 5.77 and a beta of 1.29. The firm has a fifty day simple moving average of $31.97 and a 200 day simple moving average of $36.11.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its 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 business had revenue of $287.20 million during the quarter, compared to the consensus estimate of $169.00 million. Merchants Bancorp had a net margin of 20.73% and a return on equity of 19.09%. As a group, research analysts forecast that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.27%. Merchants Bancorp's payout ratio is presently 7.35%.

Merchants Bancorp 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.