Advisor Resource Council Takes Position in Merchants Bancorp (NASDAQ:MBIN)

Advisor Resource Council purchased a new stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 23,876 shares of the company's stock, valued at approximately $830,000. Advisor Resource Council owned about 0.05% of Merchants Bancorp as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Sowell Financial Services LLC purchased a new stake in Merchants Bancorp in the 1st quarter valued at about $318,000. Harbor Capital Advisors Inc. boosted its position in shares of 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 purchasing an additional 1,402 shares during the period. Matrix Trust Co increased its holdings in Merchants Bancorp by 45.0% in the 1st quarter. Matrix Trust Co now owns 3,830 shares of the company's stock valued at $142,000 after purchasing an additional 1,188 shares during the last quarter. GAMMA Investing LLC raised its position in Merchants Bancorp by 4,443.0% in the first quarter. GAMMA Investing LLC now owns 7,178 shares of the company's stock valued at $266,000 after purchasing an additional 7,020 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in Merchants Bancorp during the fourth quarter worth $395,000. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Merchants Bancorp Stock Down 1.1%

Shares of NASDAQ:MBIN traded down $0.35 during trading on Wednesday, hitting $32.51. The company's stock had a trading volume of 102,446 shares, compared to its average volume of 176,369. Merchants Bancorp has a fifty-two week low of $27.25 and a fifty-two week high of $53.27. The business has a 50 day moving average price of $31.99 and a two-hundred day moving average price of $36.02. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.88 and a current ratio of 1.20. The company has a market capitalization of $1.49 billion, a PE ratio of 6.04 and a beta of 1.29.

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). Merchants Bancorp had a net margin of 20.73% and a return on equity of 19.09%. The company had revenue of $287.20 million during the quarter, compared to analysts' expectations of $169.00 million. As a group, research analysts expect that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, June 13th. Merchants Bancorp's payout ratio is presently 7.35%.

Wall Street Analyst Weigh In

MBIN has been the subject of a number of research reports. Wall Street Zen raised Merchants Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Raymond James Financial restated an "outperform" rating and set a $41.00 target price (down from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th. Finally, Morgan Stanley cut 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 note on Thursday, March 13th.

About Merchants Bancorp

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.