Ameriprise Financial Inc. Purchases 35,492 Shares of Merchants Bancorp (NASDAQ:MBIN)

Ameriprise Financial Inc. increased its holdings in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 76.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,200 shares of the company's stock after acquiring an additional 35,492 shares during the period. Ameriprise Financial Inc. owned about 0.18% of Merchants Bancorp worth $2,998,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in Merchants Bancorp by 1.1% during the 4th quarter. LPL Financial LLC now owns 47,903 shares of the company's stock worth $1,747,000 after purchasing an additional 527 shares in the last quarter. Inceptionr LLC boosted its position in shares of Merchants Bancorp by 13.7% during the fourth quarter. Inceptionr LLC now owns 5,718 shares of the company's stock valued at $209,000 after buying an additional 687 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Merchants Bancorp in the 4th quarter valued at $25,000. Price T Rowe Associates Inc. MD lifted its stake in Merchants Bancorp by 14.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,863 shares of the company's stock valued at $251,000 after acquiring an additional 846 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Merchants Bancorp by 9.3% during the 4th quarter. MetLife Investment Management LLC now owns 10,826 shares of the company's stock worth $395,000 after acquiring an additional 921 shares during the last quarter. Institutional investors own 24.57% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler increased their target price on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a report on Thursday, January 30th. Wall Street Zen raised Merchants Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Raymond James reiterated an "outperform" rating and set a $41.00 price target (down from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th. Finally, Morgan Stanley reduced their price objective on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th.

Merchants Bancorp Stock Performance

Shares of MBIN stock traded up $0.21 on Thursday, hitting $32.76. 215,701 shares of the stock were exchanged, compared to its average volume of 179,745. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The firm has a market capitalization of $1.50 billion, a PE ratio of 5.19 and a beta of 1.31. Merchants Bancorp has a one year low of $27.25 and a one year high of $53.27. The firm's 50 day moving average is $33.16 and its two-hundred day moving average is $37.18.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its quarterly earnings data 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 22.08% and a return on equity of 22.86%. The company had revenue of $287.20 million for the quarter, compared to the consensus estimate of $169.00 million. Sell-side analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.22%. The ex-dividend date is Friday, June 13th. Merchants Bancorp's payout ratio is 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.