Franklin Resources Inc. Has $1.50 Million Position in Merchants Bancorp (NASDAQ:MBIN)

Franklin Resources Inc. boosted its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 85.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,338 shares of the company’s stock after buying an additional 15,342 shares during the period. Franklin Resources Inc. owned approximately 0.07% of Merchants Bancorp worth $1,504,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MBIN. Marshall Wace LLP increased its position in shares of Merchants Bancorp by 6,793.6% during the second quarter. Marshall Wace LLP now owns 365,290 shares of the company’s stock worth $14,809,000 after acquiring an additional 359,991 shares in the last quarter. Royce & Associates LP boosted its stake in Merchants Bancorp by 143.1% during the 3rd quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock valued at $22,039,000 after purchasing an additional 288,553 shares during the last quarter. Ovata Capital Management Ltd bought a new stake in Merchants Bancorp during the 2nd quarter worth approximately $4,054,000. Dimensional Fund Advisors LP raised its stake in shares of Merchants Bancorp by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company’s stock worth $41,465,000 after purchasing an additional 94,781 shares during the last quarter. Finally, Foundry Partners LLC bought a new position in shares of Merchants Bancorp in the third quarter valued at approximately $3,477,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Buying and Selling

In other news, Director Patrick D. O’brien acquired 40,000 shares of Merchants Bancorp stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the acquisition, the director now owns 40,000 shares in the company, valued at approximately $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 39.70% of the stock is currently owned by corporate insiders.

Merchants Bancorp Stock Performance

MBIN stock opened at $36.34 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. The firm has a market cap of $1.66 billion, a PE ratio of 6.02 and a beta of 1.13. The business has a 50 day moving average of $39.40 and a 200-day moving average of $42.20. Merchants Bancorp has a 12-month low of $35.56 and a 12-month high of $53.27.

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

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.99%. Merchants Bancorp’s payout ratio is currently 5.96%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler upped their price target on Merchants Bancorp from $48.00 to $52.50 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Morgan Stanley assumed coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price objective on the stock. Finally, Raymond James lowered their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th.

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.