Vanguard Group Inc. Sells 35,224 Shares of Merchants Bancorp (NASDAQ:MBIN)

Vanguard Group Inc. trimmed its position in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,207,854 shares of the company's stock after selling 35,224 shares during the quarter. Vanguard Group Inc. owned 2.64% of Merchants Bancorp worth $44,050,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC raised its stake in shares of Merchants Bancorp by 1.1% during the fourth quarter. LPL Financial LLC now owns 47,903 shares of the company's stock valued at $1,747,000 after acquiring an additional 527 shares during the last quarter. Inceptionr LLC increased its stake in shares of Merchants Bancorp by 13.7% during the fourth quarter. Inceptionr LLC now owns 5,718 shares of the company's stock valued at $209,000 after buying an additional 687 shares during the period. Kestra Investment Management LLC purchased a new stake in Merchants Bancorp in the fourth quarter worth $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Merchants Bancorp by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,319 shares of the company's stock worth $914,000 after purchasing an additional 1,099 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Merchants Bancorp by 4.4% during the 4th quarter. Rhumbline Advisers now owns 28,753 shares of the company's stock valued at $1,049,000 after purchasing an additional 1,201 shares in the last quarter. 24.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MBIN has been the subject of several research analyst reports. Morgan Stanley lowered 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 report on Thursday, March 13th. Piper Sandler increased 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. Finally, Raymond James reduced their target price on shares of Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd.

Merchants Bancorp Stock Performance

Shares of NASDAQ MBIN traded up $0.13 during midday trading on Thursday, hitting $32.18. 9,846 shares of the stock traded hands, compared to its average volume of 166,330. The firm has a market capitalization of $1.48 billion, a P/E ratio of 5.09 and a beta of 1.15. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The firm has a 50-day moving average of $38.08 and a two-hundred day moving average of $39.32. Merchants Bancorp has a one year low of $31.06 and a one year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. On average, equities analysts forecast that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, March 14th. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. Merchants Bancorp's dividend payout ratio (DPR) is currently 6.34%.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the sale, the insider now directly owns 27,606 shares of the company's stock, valued at $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 39.70% of the stock is currently owned by insiders.

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.