Elser Financial Planning Inc Makes New $934.50 Million Investment in Merchants Bancorp $MBIN

Key Points

• Elser Financial Planning Inc has made a significant investment of approximately $934.50 million in Merchants Bancorp, acquiring over 27 million shares, which accounts for 56% of its holdings.
• Merchants Bancorp's stock has seen a recent drop in price targets from several analysts, with Morgan Stanley lowering theirs from $40 to $34.
• The company announced a quarterly dividend of $0.10 to be paid on October 1st, with a yield of 1.2%, and a projected FY earnings per share of 5.54.

Elser Financial Planning Inc acquired a new position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 27,094,718 shares of the company's stock, valued at approximately $934,497,000. Merchants Bancorp accounts for about 56.0% of Elser Financial Planning Inc's holdings, making the stock its largest holding. Elser Financial Planning Inc owned 59.06% of Merchants Bancorp at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MBIN. Bank of America Corp DE grew its position in shares of Merchants Bancorp by 27.8% in the fourth quarter. Bank of America Corp DE now owns 31,501 shares of the company's stock valued at $1,149,000 after purchasing an additional 6,847 shares during the last quarter. Two Sigma Investments LP bought a new stake in Merchants Bancorp during the 4th quarter valued at approximately $1,282,000. Two Sigma Advisers LP acquired a new stake in Merchants Bancorp in the 4th quarter valued at approximately $379,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Merchants Bancorp by 20.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,527 shares of the company's stock valued at $894,000 after buying an additional 4,208 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in Merchants Bancorp in the 4th quarter worth approximately $395,000. Institutional investors own 24.57% of the company's stock.

Insider Transactions at Merchants Bancorp

In related news, CAO Darin L. Thomas acquired 3,353 shares of the business's stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $29.71 per share, with a total value of $99,617.63. Following the completion of the acquisition, the chief accounting officer owned 2,250 shares in the company, valued at $66,847.50. The trade was a -303.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 34.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MBIN has been the subject of several research reports. Morgan Stanley reduced their price objective on Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 29th. Raymond James Financial reiterated an "outperform" rating and set a $40.00 target price (down from $41.00) on shares of Merchants Bancorp in a research note on Tuesday, July 29th. Piper Sandler reissued an "overweight" rating and issued a $41.00 price target (down from $42.00) on shares of Merchants Bancorp in a report on Wednesday, July 30th. Finally, Wall Street Zen downgraded shares of Merchants Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.33.

Merchants Bancorp Stock Performance

NASDAQ MBIN opened at $32.05 on Monday. The stock has a market cap of $1.47 billion, a P/E ratio of 7.04 and a beta of 1.29. The company's 50-day simple moving average is $32.26 and its 200 day simple moving average is $33.10. Merchants Bancorp has a twelve month low of $27.25 and a twelve month high of $46.78. The company has a quick ratio of 0.88, a current ratio of 1.20 and a debt-to-equity ratio of 2.45.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($0.52). The business had revenue of $179.20 million for the quarter, compared to the consensus estimate of $161.10 million. Merchants Bancorp had a return on equity of 16.06% and a net margin of 18.06%. As a group, research analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, September 15th. Merchants Bancorp's dividend payout ratio is 8.79%.

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.

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