Mackenzie Financial Corp Takes Position in Merchants Bancorp (NASDAQ:MBIN)

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

Several other large investors have also recently bought and sold shares of MBIN. Elser Financial Planning Inc bought a new stake in shares of Merchants Bancorp in the fourth quarter valued at about $994,207,000. Allspring Global Investments Holdings LLC grew its position in shares of Merchants Bancorp by 5.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 89,841 shares of the company's stock worth $3,276,000 after purchasing an additional 4,485 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Merchants Bancorp by 3.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 225,419 shares of the company's stock worth $8,221,000 after purchasing an additional 6,882 shares during the period. Rhumbline Advisers increased its holdings in shares of Merchants Bancorp by 4.4% during the fourth quarter. Rhumbline Advisers now owns 28,753 shares of the company's stock worth $1,049,000 after purchasing an additional 1,201 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of Merchants Bancorp in the fourth quarter valued at approximately $25,000. 24.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MBIN. Raymond James reissued 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. Morgan Stanley decreased their target price 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. Finally, Wall Street Zen downgraded shares of Merchants Bancorp from a "hold" rating to a "sell" rating in a report on Sunday, June 1st.

Merchants Bancorp Price Performance

Shares of MBIN stock traded up $0.72 on Friday, hitting $32.28. 34,541 shares of the company's stock were exchanged, compared to its average volume of 178,285. Merchants Bancorp has a 12 month low of $27.25 and a 12 month high of $53.27. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The company has a 50 day moving average of $32.44 and a 200 day moving average of $36.82. The stock has a market cap of $1.48 billion, a P/E ratio of 5.12 and a beta of 1.31.

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). The company had revenue of $287.20 million during the quarter, compared to the consensus estimate of $169.00 million. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. On average, equities research analysts predict that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, June 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.24%. Merchants Bancorp's dividend payout ratio (DPR) is presently 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.