Boston Partners Acquires 9,386 Shares of Merchants Bancorp (NASDAQ:MBIN)

Boston Partners boosted its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 337,235 shares of the company’s stock after purchasing an additional 9,386 shares during the period. Boston Partners’ holdings in Merchants Bancorp were worth $12,500,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC acquired a new position in Merchants Bancorp during the 4th quarter worth approximately $25,000. Bank of Jackson Hole Trust acquired a new position in Merchants Bancorp during the fourth quarter worth $82,000. Matrix Trust Co grew its position in Merchants Bancorp by 730.8% in the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock valued at $96,000 after purchasing an additional 2,324 shares in the last quarter. FMR LLC lifted its position in 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 in the last quarter. Finally, Hohimer Wealth Management LLC acquired a new position in shares of Merchants Bancorp during the 3rd quarter worth about $202,000. 24.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on MBIN shares. Piper Sandler lifted their target price on Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Raymond James reiterated an “outperform” rating and set a $53.00 price objective (up previously from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th. Finally, Morgan Stanley decreased their target price on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th.

Insider Activity

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 stock was sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 39.70% of the company’s stock.

Merchants Bancorp Trading Down 0.2 %

Merchants Bancorp stock opened at $38.92 on Friday. The stock has a 50-day simple moving average of $40.06 and a 200 day simple moving average of $40.66. The stock has a market capitalization of $1.78 billion, a P/E ratio of 6.17 and a beta of 1.16. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. Merchants Bancorp has a 52 week low of $34.16 and a 52 week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Monday, February 3rd. The company reported $1.85 EPS for the quarter, topping 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%. Analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.10 dividend. 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 1.03%. The ex-dividend date is Friday, March 14th. Merchants Bancorp’s payout ratio is currently 6.34%.

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.