Point72 Asset Management L.P. Purchases New Position in Merchants Bancorp (NASDAQ:MBIN)

Point72 Asset Management L.P. purchased a new position in Merchants Bancorp (NASDAQ:MBIN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,084 shares of the company's stock, valued at approximately $878,000. Point72 Asset Management L.P. owned about 0.05% of Merchants Bancorp as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC bought a new position in shares of Merchants Bancorp during the fourth quarter valued at $293,000. Twelve Points Wealth Management LLC lifted its position in Merchants Bancorp by 5.3% during the fourth quarter. Twelve Points Wealth Management LLC now owns 35,814 shares of the company's stock valued at $1,306,000 after purchasing an additional 1,802 shares during the period. Elser Financial Planning Inc purchased a new stake in Merchants Bancorp during the fourth quarter valued at $994,207,000. Allspring Global Investments Holdings LLC increased 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 valued at $3,276,000 after purchasing an additional 4,485 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in shares of Merchants Bancorp by 3.1% in the 4th 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. Institutional investors own 24.57% of the company's stock.

Merchants Bancorp Price Performance

Shares of NASDAQ MBIN traded down $0.39 during midday trading on Wednesday, reaching $32.68. The stock had a trading volume of 6,197 shares, compared to its average volume of 179,462. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 5.18 and a beta of 1.31. Merchants Bancorp has a 12-month low of $27.25 and a 12-month high of $53.27. The stock has a 50-day moving average of $33.27 and a 200-day moving average of $37.21. 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 quarterly 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 net margin of 22.08% and a return on equity of 22.86%. The business had revenue of $287.20 million for the quarter, compared to the consensus estimate of $169.00 million. As a group, research analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently disclosed 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 1.22%. Merchants Bancorp's dividend payout ratio (DPR) is 7.35%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Merchants Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday. 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 note on Thursday, January 30th. Morgan Stanley decreased 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, Raymond James reissued an "outperform" rating and set a $41.00 price target (down previously from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th.

About Merchants Bancorp

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.