Merchants Bancorp (NASDAQ:MBIN) Shares Bought by Inceptionr LLC

Inceptionr LLC boosted its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 13.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,718 shares of the company’s stock after buying an additional 687 shares during the quarter. Inceptionr LLC’s holdings in Merchants Bancorp were worth $209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Elser Financial Planning Inc acquired a new position in Merchants Bancorp during the fourth quarter worth about $994,207,000. PL Capital Advisors LLC raised its position in 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 worth $250,442,000 after acquiring an additional 6,678,788 shares during the last quarter. Geode Capital Management LLC raised 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 acquiring an additional 16,666 shares during the last quarter. Royce & Associates LP raised 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 acquiring an additional 288,553 shares during the last quarter. Finally, State Street Corp raised 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 acquiring an additional 20,214 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Activity at Merchants Bancorp

In related 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 value of $1,077,500.00. Following the completion of the sale, the insider now directly owns 27,606 shares in the company, valued at approximately $1,189,818.60. The trade was 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 the SEC website. 39.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on MBIN. Raymond James reiterated an “outperform” rating and set a $53.00 price target (up from $50.00) on shares of Merchants Bancorp in a report on Thursday, January 30th. Piper Sandler lifted their price target on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a report on Thursday, January 30th.

Merchants Bancorp Stock Performance

Shares of NASDAQ MBIN opened at $36.62 on Tuesday. The company has a market cap of $1.68 billion, a PE ratio of 5.80 and a beta of 1.16. 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 50-day simple moving average of $39.80 and a 200-day simple moving average of $41.04.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Monday, February 3rd. The company reported $1.85 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%. On average, equities analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.09%. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, March 14th. Merchants Bancorp’s payout ratio is presently 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.