Mackenzie Financial Corp Takes $395,000 Position in Merchants Bancorp (NASDAQ:MBIN)

Mackenzie Financial Corp bought a new stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,822 shares of the company's stock, valued at approximately $395,000.

Other large investors have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in shares of Merchants Bancorp during the fourth quarter valued at approximately $25,000. Cubist Systematic Strategies LLC purchased a new position in shares of Merchants Bancorp during the fourth quarter valued at approximately $79,000. Bank of Jackson Hole Trust purchased a new position in shares of Merchants Bancorp during the fourth quarter valued at approximately $82,000. Tower Research Capital LLC TRC lifted its holdings in shares of Merchants Bancorp by 118.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock valued at $130,000 after purchasing an additional 1,933 shares during the last quarter. Finally, Inceptionr LLC raised its holdings in Merchants Bancorp by 13.7% in the 4th quarter. Inceptionr LLC now owns 5,718 shares of the company's stock worth $209,000 after acquiring an additional 687 shares during the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on MBIN. Raymond James restated an "outperform" rating and issued a $41.00 price objective (down from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th. Wall Street Zen lowered shares of Merchants Bancorp from a "hold" rating to a "sell" rating in a report on Sunday, June 1st. Finally, Morgan Stanley decreased their price objective on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th.

Merchants Bancorp Stock Up 2.9%

NASDAQ MBIN traded up $0.93 during mid-day trading on Friday, reaching $32.49. The stock had a trading volume of 77,422 shares, compared to its average volume of 177,576. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $53.27. The stock has a market cap of $1.49 billion, a PE ratio of 5.15 and a beta of 1.29. The company has a fifty day moving average price of $32.36 and a 200 day moving average price of $36.78. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85.

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

Merchants Bancorp Announces Dividend

The company 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. The ex-dividend date is Friday, June 13th. This represents a $0.40 annualized dividend and a yield of 1.23%. Merchants Bancorp's payout ratio is 7.35%.

Merchants Bancorp Company 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.