Renaissance Technologies LLC Acquires 62,600 Shares of Merchants Bancorp (NASDAQ:MBIN)

Renaissance Technologies LLC increased its position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 254.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,200 shares of the company's stock after buying an additional 62,600 shares during the quarter. Renaissance Technologies LLC owned about 0.19% of Merchants Bancorp worth $3,180,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MBIN. LPL Financial LLC increased its holdings in Merchants Bancorp by 1.1% during the 4th quarter. LPL Financial LLC now owns 47,903 shares of the company's stock worth $1,747,000 after purchasing an additional 527 shares in the last quarter. Inceptionr LLC increased its holdings 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. Kestra Investment Management LLC bought a new stake in Merchants Bancorp during the 4th quarter worth approximately $25,000. Rhumbline Advisers increased its holdings in Merchants Bancorp by 4.4% during the 4th quarter. Rhumbline Advisers now owns 28,753 shares of the company's stock worth $1,049,000 after purchasing an additional 1,201 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Merchants Bancorp by 10.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,610 shares of the company's stock worth $496,000 after purchasing an additional 1,303 shares in the last quarter. 24.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MBIN has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Morgan Stanley reduced their target price on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Finally, Raymond James reduced their target price on Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd.

Insiders Place Their Bets

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total value of $1,077,500.00. Following the completion of the transaction, the insider now owns 27,606 shares in the company, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 34.80% of the stock is owned by insiders.

Merchants Bancorp Price Performance

Shares of NASDAQ MBIN traded down $3.61 during midday trading on Tuesday, hitting $29.99. 63,453 shares of the company's stock were exchanged, compared to its average volume of 191,358. Merchants Bancorp has a 12-month low of $27.65 and a 12-month high of $53.27. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 4.75 and a beta of 1.15. The business's fifty day moving average price is $36.41 and its two-hundred day moving average price is $38.60.

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

Merchants Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.10 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.40 annualized dividend and a yield of 1.33%. This is a positive change from Merchants Bancorp's previous quarterly dividend of $0.09. Merchants Bancorp's dividend payout ratio is currently 6.34%.

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.