Millennium Management LLC Buys 85,948 Shares of Merchants Bancorp (NASDAQ:MBIN)

Millennium Management LLC lifted its holdings in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 214.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 126,087 shares of the company's stock after purchasing an additional 85,948 shares during the quarter. Millennium Management LLC owned about 0.28% of Merchants Bancorp worth $4,598,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Kestra Investment Management LLC acquired a new stake in shares of Merchants Bancorp during the fourth quarter worth $25,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Merchants Bancorp in the 4th quarter valued at about $79,000. Bank of Jackson Hole Trust bought a new stake in shares of Merchants Bancorp in the fourth quarter valued at about $82,000. Tower Research Capital LLC TRC lifted its holdings in shares of Merchants Bancorp by 118.9% in 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 in the last quarter. Finally, 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 worth $209,000 after buying an additional 687 shares during the period. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Price Performance

MBIN stock traded down $0.64 during mid-day trading on Friday, hitting $32.12. The stock had a trading volume of 127,882 shares, compared to its average volume of 179,692. The firm has a fifty day simple moving average of $33.04 and a 200 day simple moving average of $37.12. The firm has a market capitalization of $1.47 billion, a P/E ratio of 5.09 and a beta of 1.31. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $53.27.

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%. As a group, research analysts forecast that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.10 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. Merchants Bancorp's dividend payout ratio is 7.35%.

Analyst Ratings Changes

A number of research analysts recently weighed in on MBIN shares. Wall Street Zen raised shares of Merchants Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Raymond James restated an "outperform" rating and issued a $41.00 price objective (down previously from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th. Morgan Stanley dropped their target price on 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, Piper Sandler increased their price objective on Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a report on Thursday, January 30th.

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.