Charles Schwab Investment Management Inc. Trims Position in Merchants Bancorp (NASDAQ:MBIN)

Charles Schwab Investment Management Inc. trimmed its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 11.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 207,282 shares of the company’s stock after selling 26,200 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Merchants Bancorp were worth $7,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in shares of Merchants Bancorp during the 4th quarter worth $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Merchants Bancorp during the 4th quarter worth $82,000. Matrix Trust Co increased its holdings in shares of Merchants Bancorp by 730.8% during the 4th quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock worth $96,000 after buying an additional 2,324 shares during the last quarter. FMR LLC increased its holdings in shares of Merchants Bancorp by 214.5% during the 3rd quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after buying an additional 2,699 shares during the last quarter. Finally, Hohimer Wealth Management LLC acquired a new stake in shares of Merchants Bancorp during the 3rd quarter worth $202,000. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MBIN has been the subject of a number of research analyst reports. Piper Sandler upped 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. Morgan Stanley lowered their price target on Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, Raymond James reiterated an “outperform” rating and issued a $53.00 price target (up from $50.00) on shares of Merchants Bancorp in a report on Thursday, January 30th.

Merchants Bancorp Stock Down 1.8 %

Shares of Merchants Bancorp stock opened at $38.22 on Monday. The business has a 50-day moving average of $40.13 and a 200-day moving average of $40.54. 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 $1.75 billion, a PE ratio of 6.06 and a beta of 1.16. Merchants Bancorp has a 1-year low of $34.16 and a 1-year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. As a group, equities analysts forecast that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, March 14th. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.05%. Merchants Bancorp’s dividend payout ratio (DPR) is currently 6.34%.

Insider Activity

In related news, insider Scott A. Evans sold 25,000 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was 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 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 filing with the Securities & Exchange Commission, which is available through this link. 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.