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

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

A number of other hedge funds and other institutional investors also recently modified their holdings of MBIN. Elser Financial Planning Inc acquired a new stake in shares of Merchants Bancorp during the 4th quarter worth about $994,207,000. Valeo Financial Advisors LLC raised its position in shares of Merchants Bancorp by 3.1% in the 4th quarter. Valeo Financial Advisors LLC now owns 225,419 shares of the company's stock valued at $8,221,000 after buying an additional 6,882 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Merchants Bancorp by 94.2% during the 4th quarter. Jane Street Group LLC now owns 20,513 shares of the company's stock valued at $748,000 after purchasing an additional 9,952 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Merchants Bancorp by 22.2% during the 4th quarter. New York State Common Retirement Fund now owns 60,534 shares of the company's stock valued at $2,208,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Moran Wealth Management LLC bought a new stake in shares of Merchants Bancorp during the 4th quarter valued at approximately $3,524,000. Institutional investors own 24.57% of the company's stock.

Wall Street Analyst Weigh In

MBIN has been the topic of a number of research reports. Wall Street Zen lowered shares of Merchants Bancorp from a "hold" rating to a "sell" rating in a report on Sunday. Raymond James reiterated an "outperform" rating and set a $41.00 target price (down previously from $45.00) on shares of Merchants Bancorp in a research report on Tuesday, April 29th. Finally, Morgan Stanley lowered their price objective on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th.

Merchants Bancorp Price Performance

Merchants Bancorp stock traded down $0.64 during mid-day trading on Friday, hitting $32.12. 127,882 shares of the company traded hands, compared to its average volume of 179,842. Merchants Bancorp has a one year low of $27.25 and a one year high of $53.27. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 5.09 and a beta of 1.31. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The stock has a fifty day moving average price of $32.91 and a 200-day moving average price of $37.01.

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

Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Friday, June 13th. Merchants Bancorp's dividend payout ratio (DPR) 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.