MeadowBrook Investment Advisors LLC Takes Position in Merchants Bancorp (NASDAQ:MBIN)

MeadowBrook Investment Advisors LLC bought a new stake in Merchants Bancorp (NASDAQ:MBIN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 600 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wedge Capital Management L L P NC grew its position in Merchants Bancorp by 2.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 15,748 shares of the company’s stock worth $671,000 after purchasing an additional 360 shares during the last quarter. Raymond James & Associates grew its position in Merchants Bancorp by 1.4% in the 3rd quarter. Raymond James & Associates now owns 34,501 shares of the company’s stock valued at $956,000 after buying an additional 489 shares in the last quarter. Swiss National Bank increased its stake in Merchants Bancorp by 1.9% during the 3rd quarter. Swiss National Bank now owns 38,000 shares of the company’s stock valued at $1,053,000 after buying an additional 700 shares during the period. Twelve Points Wealth Management LLC boosted its holdings in shares of Merchants Bancorp by 3.8% in the fourth quarter. Twelve Points Wealth Management LLC now owns 31,733 shares of the company’s stock valued at $1,351,000 after acquiring an additional 1,170 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Merchants Bancorp by 2.6% during the third quarter. Assenagon Asset Management S.A. now owns 55,245 shares of the company’s stock worth $1,531,000 after purchasing an additional 1,382 shares in the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Stock Up 2.3 %

Shares of MBIN traded up $1.08 during midday trading on Tuesday, hitting $47.91. The stock had a trading volume of 39,081 shares, compared to its average volume of 127,185. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 7.35 and a beta of 1.17. The company has a 50 day simple moving average of $41.41 and a two-hundred day simple moving average of $39.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.77. Merchants Bancorp has a twelve month low of $22.18 and a twelve month high of $48.68.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, April 29th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.43. The company had revenue of $355.05 million for the quarter, compared to analysts’ expectations of $144.15 million. Merchants Bancorp had a return on equity of 27.51% and a net margin of 23.55%. On average, analysts anticipate that Merchants Bancorp will post 6.02 EPS for the current year.

Merchants Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.09 dividend. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.75%. Merchants Bancorp’s dividend payout ratio is presently 5.65%.

Wall Street Analysts Forecast Growth

MBIN has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $58.50 price objective (up previously from $53.00) on shares of Merchants Bancorp in a research note on Friday. Raymond James upped their target price on shares of Merchants Bancorp from $44.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 30th.

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.