Nebula Research & Development LLC Reduces Position in Merchants Bancorp (NASDAQ:MBIN)

Nebula Research & Development LLC trimmed its holdings in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 51.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,022 shares of the company's stock after selling 11,742 shares during the quarter. Nebula Research & Development LLC's holdings in Merchants Bancorp were worth $402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Elser Financial Planning Inc purchased a new position in shares of Merchants Bancorp in the 4th quarter valued at approximately $994,207,000. PL Capital Advisors LLC raised its stake in Merchants Bancorp by 3,547.0% in the 4th quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company's stock worth $250,442,000 after acquiring an additional 6,678,788 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Merchants Bancorp by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company's stock worth $46,211,000 after acquiring an additional 132,841 shares during the period. Moran Wealth Management LLC purchased a new position in shares of Merchants Bancorp in the fourth quarter worth about $3,524,000. Finally, Endeavour Capital Advisors Inc. acquired a new stake in shares of Merchants Bancorp during the fourth quarter worth about $3,509,000. 24.57% of the stock is owned by institutional investors and hedge funds.

Merchants Bancorp Price Performance

Shares of MBIN stock traded up $0.05 during mid-day trading on Monday, hitting $31.36. 81,546 shares of the stock were exchanged, compared to its average volume of 171,095. The company has a quick ratio of 0.85, a current ratio of 1.15 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. The firm has a fifty day moving average of $35.53 and a 200 day moving average of $38.19. The company has a market cap of $1.44 billion, a PE ratio of 4.97 and a beta of 1.31.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $169.00 million. Research analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Friday, March 14th. This is an increase from Merchants Bancorp's previous quarterly dividend of $0.09. Merchants Bancorp's dividend payout ratio is 7.35%.

Wall Street Analysts Forecast Growth

Several brokerages have commented 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 research note on Thursday, January 30th. Raymond James reiterated an "outperform" rating and set a $41.00 price objective (down previously from $45.00) on shares of Merchants Bancorp in a research note on Tuesday, April 29th. Finally, Morgan Stanley lowered their target price on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th.

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.