Merchants Bancorp (NASDAQ:MBIN) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 25.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 280,942 shares of the company’s stock after buying an additional 56,514 shares during the quarter. JPMorgan Chase & Co.’s holdings in Merchants Bancorp were worth $10,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in MBIN. Elser Financial Planning Inc acquired a new stake in shares of Merchants Bancorp in the fourth quarter valued at approximately $994,207,000. PL Capital Advisors LLC lifted its holdings in Merchants Bancorp by 3,547.0% in the fourth quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company’s stock valued at $250,442,000 after acquiring an additional 6,678,788 shares during the period. Moran Wealth Management LLC purchased a new stake in Merchants Bancorp during the fourth quarter worth about $3,524,000. Royce & Associates LP boosted its stake in shares of Merchants Bancorp by 15.5% during the 4th quarter. Royce & Associates LP now owns 566,245 shares of the company’s stock worth $20,651,000 after acquiring an additional 76,056 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Merchants Bancorp in the 4th quarter worth approximately $2,095,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Transactions at Merchants Bancorp

In other news, insider Scott A. Evans sold 25,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 27,606 shares in the company, valued at $1,189,818.60. This trade represents a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 39.70% of the company’s stock.

Analyst Ratings Changes

MBIN has been the topic of a number of research analyst reports. Raymond James decreased their target price on Merchants Bancorp from $53.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler boosted their price objective 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. Finally, Morgan Stanley dropped 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 report on Thursday, March 13th.

Merchants Bancorp Price Performance

MBIN stock opened at $31.91 on Tuesday. The stock’s 50 day moving average price is $38.51 and its 200 day moving average price is $39.42. The firm has a market cap of $1.46 billion, a P/E ratio of 5.06 and a beta of 1.15. 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 1 year low of $31.06 and a 1 year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. On average, sell-side analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.10 per share. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, March 14th. Merchants Bancorp’s dividend payout ratio (DPR) 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.