Point72 Asset Management L.P. Takes $878,000 Position in Merchants Bancorp (NASDAQ:MBIN)

Point72 Asset Management L.P. acquired a new stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 24,084 shares of the company's stock, valued at approximately $878,000. Point72 Asset Management L.P. owned approximately 0.05% of Merchants Bancorp at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC acquired a new position in Merchants Bancorp during the 4th quarter worth $25,000. Cubist Systematic Strategies LLC acquired a new position in Merchants Bancorp during the 4th quarter worth $79,000. Bank of Jackson Hole Trust acquired a new position in Merchants Bancorp during the 4th quarter worth $82,000. Tower Research Capital LLC TRC grew its stake in Merchants Bancorp by 118.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock worth $130,000 after purchasing an additional 1,933 shares in the last quarter. Finally, Inceptionr LLC grew its stake in Merchants Bancorp by 13.7% during the 4th quarter. Inceptionr LLC now owns 5,718 shares of the company's stock worth $209,000 after purchasing an additional 687 shares in the last quarter. 24.57% of the stock is owned by institutional investors and hedge funds.

Merchants Bancorp Stock Up 5.3%

Shares of NASDAQ:MBIN traded up $1.68 on Tuesday, hitting $33.14. 69,895 shares of the company's stock were exchanged, compared to its average volume of 179,878. The firm's 50-day moving average is $33.39 and its 200 day moving average is $37.24. The company has a market capitalization of $1.52 billion, a PE ratio of 5.23 and a beta of 1.31. Merchants Bancorp has a 1-year low of $27.25 and a 1-year high of $53.27. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15.

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

Merchants Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, June 13th. Merchants Bancorp's payout ratio is currently 7.35%.

Wall Street Analyst Weigh In

MBIN has been the subject of several analyst reports. Wall Street Zen raised Merchants Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday. Raymond James reaffirmed an "outperform" rating and set a $41.00 price target (down from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th. Morgan Stanley lowered their price objective on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Finally, Piper Sandler upped their price objective on Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a research 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.