Rhumbline Advisers Has $1.05 Million Stake in Merchants Bancorp (NASDAQ:MBIN)

Rhumbline Advisers grew its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,753 shares of the company’s stock after acquiring an additional 1,201 shares during the quarter. Rhumbline Advisers owned 0.06% of Merchants Bancorp worth $1,049,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Royce & Associates LP raised its stake in Merchants Bancorp by 143.1% during the third quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock worth $22,039,000 after acquiring an additional 288,553 shares in the last quarter. Elser Financial Planning Inc acquired a new stake in Merchants Bancorp during the 4th quarter worth approximately $994,207,000. Valeo Financial Advisors LLC grew its holdings in Merchants Bancorp by 3.1% during the 4th quarter. Valeo Financial Advisors LLC now owns 225,419 shares of the company’s stock worth $8,221,000 after acquiring an additional 6,882 shares during the last quarter. State Street Corp increased its position in Merchants Bancorp by 4.7% in the 3rd quarter. State Street Corp now owns 448,525 shares of the company’s stock valued at $20,205,000 after acquiring an additional 20,214 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Merchants Bancorp by 3.0% during the third quarter. Geode Capital Management LLC now owns 566,520 shares of the company’s stock valued at $25,476,000 after acquiring an additional 16,666 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Activity at Merchants Bancorp

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were 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 in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. 39.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Raymond James reissued an “outperform” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th. Piper Sandler upped their price target on Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a research report on Thursday, January 30th.

Merchants Bancorp Stock Up 1.9 %

Shares of NASDAQ MBIN opened at $39.83 on Thursday. The company’s 50 day moving average price is $39.71 and its 200-day moving average price is $41.18. 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. The company has a market capitalization of $1.82 billion, a P/E ratio of 6.31 and a beta of 1.15.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results 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%. Equities analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.10 per share. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. Merchants Bancorp’s dividend payout ratio is presently 6.34%.

Merchants Bancorp Company 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.