Merchants Bancorp (NASDAQ:MBIN) Stock Holdings Increased by Fmr LLC

Fmr LLC raised its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 214.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,957 shares of the company’s stock after purchasing an additional 2,699 shares during the quarter. Fmr LLC’s holdings in Merchants Bancorp were worth $178,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Merchants Bancorp by 209.4% during the 3rd quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after acquiring an additional 869 shares during the last quarter. nVerses Capital LLC raised its position in shares of Merchants Bancorp by 650.0% during the second quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock worth $61,000 after purchasing an additional 1,300 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Merchants Bancorp during the third quarter valued at $162,000. Point72 Asset Management L.P. boosted its position in shares of Merchants Bancorp by 54.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock valued at $163,000 after purchasing an additional 1,412 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Merchants Bancorp by 79.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock valued at $193,000 after purchasing an additional 2,101 shares during the period. 24.57% of the stock is currently owned by institutional investors.

Merchants Bancorp Stock Up 0.6 %

Shares of Merchants Bancorp stock opened at $36.15 on Friday. Merchants Bancorp has a 1 year low of $35.56 and a 1 year high of $53.27. The company has a market cap of $1.65 billion, a P/E ratio of 5.99 and a beta of 1.13. 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 stock has a 50-day moving average price of $40.27 and a 200 day moving average price of $42.33.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. The company had revenue of $355.67 million during the quarter, compared to analysts’ expectations of $156.13 million. During the same period last year, the company earned $1.68 earnings per share. As a group, analysts expect that Merchants Bancorp will post 5.74 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Friday, December 13th. Merchants Bancorp’s dividend payout ratio (DPR) is currently 5.96%.

Analyst Ratings Changes

A number of analysts have commented on MBIN shares. Raymond James reduced their price objective on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Piper Sandler boosted their price target on shares of Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley began coverage on shares of Merchants Bancorp in a research note on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price objective for the company.

Insider Activity

In other news, Director Patrick D. O’brien purchased 40,000 shares of Merchants Bancorp stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the acquisition, the director now directly owns 40,000 shares in the company, valued at $1,000,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 39.70% of the stock is currently owned by corporate insiders.

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.