Victory Capital Management Inc. Sells 1,275 Shares of Merchants Bancorp (NASDAQ:MBIN)

Victory Capital Management Inc. lessened its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 10.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,459 shares of the company’s stock after selling 1,275 shares during the period. Victory Capital Management Inc.’s holdings in Merchants Bancorp were worth $418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MBIN. Elser Financial Planning Inc purchased a new position in Merchants Bancorp during the fourth quarter valued at approximately $994,207,000. PL Capital Advisors LLC increased its holdings in Merchants Bancorp by 3,547.0% during the fourth quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company’s stock valued at $250,442,000 after buying an additional 6,678,788 shares during the period. Assenagon Asset Management S.A. increased its holdings in Merchants Bancorp by 51.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 112,712 shares of the company’s stock valued at $4,111,000 after buying an additional 38,453 shares during the period. Denali Advisors LLC increased its holdings in Merchants Bancorp by 18.0% during the fourth quarter. Denali Advisors LLC now owns 182,606 shares of the company’s stock valued at $6,660,000 after buying an additional 27,817 shares during the period. Finally, Barclays PLC increased its holdings in Merchants Bancorp by 351.8% during the third quarter. Barclays PLC now owns 28,312 shares of the company’s stock valued at $1,273,000 after buying an additional 22,046 shares during the period. Institutional investors own 24.57% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, insider Scott A. Evans sold 25,000 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 27,606 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 39.70% of the company’s stock.

Merchants Bancorp Price Performance

NASDAQ MBIN opened at $38.22 on Friday. The firm’s fifty day simple moving average is $40.13 and its two-hundred day simple moving average is $40.57. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. Merchants Bancorp has a 12-month low of $34.16 and a 12-month high of $53.27. The firm has a market capitalization of $1.75 billion, a P/E 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 for the quarter, beating analysts’ consensus estimates of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. Analysts forecast that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.05%. Merchants Bancorp’s payout ratio is 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.