Merchants Bancorp (NASDAQ:MBIN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Merchants Bancorp (NASDAQ:MBIN) by 10.0% in the fourth quarter, HoldingsChannel reports. The fund owned 11,459 shares of the company’s stock after selling 1,275 shares during the quarter. Victory Capital Management Inc.’s holdings in Merchants Bancorp were worth $418,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kestra Investment Management LLC acquired a new position in shares of Merchants Bancorp in the fourth quarter worth about $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Merchants Bancorp in the fourth quarter worth about $82,000. Matrix Trust Co raised its position in shares of Merchants Bancorp by 730.8% in the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock worth $96,000 after acquiring an additional 2,324 shares during the period. FMR LLC raised its position in shares of Merchants Bancorp by 214.5% in the third quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after acquiring an additional 2,699 shares during the period. Finally, Hohimer Wealth Management LLC acquired a new position in shares of Merchants Bancorp in the third quarter worth about $202,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Activity at Merchants Bancorp

In related news, insider Scott A. Evans sold 25,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were 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 of the company’s stock, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 39.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on MBIN. Piper Sandler upped their price target on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Raymond James restated an “outperform” rating and set a $53.00 price target (up previously from $50.00) on shares of Merchants Bancorp in a research report on Thursday, January 30th. Finally, Morgan Stanley reduced their price target on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th.

Merchants Bancorp Stock Down 1.8 %

MBIN opened at $38.22 on Friday. Merchants Bancorp has a twelve month low of $34.16 and a twelve month high of $53.27. 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 company has a 50-day moving average price of $40.13 and a 200 day moving average price of $40.57. The company has a market cap of $1.75 billion, a PE ratio of 6.06 and a beta of 1.16.

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

Merchants Bancorp Increases Dividend

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

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.