First Trust Advisors LP Increases Holdings in Merchants Bancorp (NASDAQ:MBIN)

First Trust Advisors LP increased its holdings in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,329 shares of the company's stock after acquiring an additional 13,056 shares during the quarter. First Trust Advisors LP owned about 0.30% of Merchants Bancorp worth $4,972,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Freedom Investment Management Inc. increased its position in Merchants Bancorp by 31.7% during the fourth quarter. Freedom Investment Management Inc. now owns 6,597 shares of the company's stock valued at $241,000 after acquiring an additional 1,588 shares during the last quarter. Banc Funds Co. LLC boosted its holdings in Merchants Bancorp by 2.8% in the fourth quarter. Banc Funds Co. LLC now owns 400,615 shares of the company's stock valued at $14,610,000 after purchasing an additional 11,000 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Merchants Bancorp by 7.1% during the 4th quarter. Marshall Wace LLP now owns 246,879 shares of the company's stock worth $9,004,000 after purchasing an additional 16,425 shares during the period. XTX Topco Ltd purchased a new stake in Merchants Bancorp in the 4th quarter worth $391,000. Finally, Barclays PLC lifted its holdings in Merchants Bancorp by 11.9% in the 4th quarter. Barclays PLC now owns 31,681 shares of the company's stock valued at $1,155,000 after purchasing an additional 3,369 shares in the last quarter. Hedge funds and other institutional investors own 24.57% of the company's stock.

Merchants Bancorp Price Performance

Shares of MBIN traded down $0.59 on Wednesday, hitting $30.06. The company's stock had a trading volume of 181,690 shares, compared to its average volume of 191,568. The company has a market capitalization of $1.38 billion, a PE ratio of 4.76 and a beta of 1.31. 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 price of $34.92 and a 200 day moving average price of $37.99. Merchants Bancorp has a fifty-two week low of $27.25 and a fifty-two week high of $53.27.

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

Merchants Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.10 dividend. This is an increase from Merchants Bancorp's previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 14th. This represents a $0.40 annualized dividend and a yield of 1.33%. Merchants Bancorp's dividend payout ratio is presently 7.35%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MBIN. Piper Sandler lifted their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an "overweight" rating in a report on Thursday, January 30th. Raymond James restated an "outperform" rating and set a $41.00 target price (down from $45.00) on shares of Merchants Bancorp in a research report on Tuesday, April 29th. Finally, Morgan Stanley dropped 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 research note on Thursday, March 13th.

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.