Moran Wealth Management LLC Purchases Shares of 96,640 Merchants Bancorp (NASDAQ:MBIN)

Moran Wealth Management LLC purchased a new stake in Merchants Bancorp (NASDAQ:MBIN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 96,640 shares of the company’s stock, valued at approximately $3,524,000. Moran Wealth Management LLC owned approximately 0.21% of Merchants Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Elser Financial Planning Inc purchased a new position in shares of Merchants Bancorp during the fourth quarter valued at approximately $994,207,000. PL Capital Advisors LLC lifted its stake in shares of Merchants Bancorp by 3,547.0% during the fourth quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company’s stock valued at $250,442,000 after buying an additional 6,678,788 shares during the period. Geode Capital Management LLC increased its position in Merchants Bancorp by 3.0% during the third quarter. Geode Capital Management LLC now owns 566,520 shares of the company’s stock worth $25,476,000 after purchasing an additional 16,666 shares during the last quarter. Royce & Associates LP increased its position in Merchants Bancorp by 143.1% during the third quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock worth $22,039,000 after purchasing an additional 288,553 shares during the last quarter. Finally, State Street Corp increased its position in Merchants Bancorp by 4.7% during the third quarter. State Street Corp now owns 448,525 shares of the company’s stock worth $20,205,000 after purchasing an additional 20,214 shares during the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Trading Down 5.3 %

NASDAQ MBIN opened at $36.62 on Tuesday. Merchants Bancorp has a 12 month low of $34.16 and a 12 month high of $53.27. 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 market capitalization of $1.68 billion, a price-to-earnings ratio of 5.80 and a beta of 1.16. The company’s fifty day moving average price is $39.80 and its two-hundred day moving average price is $41.04.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.09%. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.09. Merchants Bancorp’s payout ratio is currently 6.34%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Raymond James reaffirmed an “outperform” rating and set a $53.00 price target (up previously from $50.00) on shares of Merchants Bancorp in a research report on Thursday, January 30th. Piper Sandler upped their price target on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a research report on Thursday, January 30th.

Insider Transactions at Merchants Bancorp

In other news, insider Scott A. Evans sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the sale, the insider now owns 27,606 shares in the company, valued at $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 39.70% of the company’s stock.

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.