Raymond James Financial Inc. Purchases Shares of 57,433 Merchants Bancorp (NASDAQ:MBIN)

Raymond James Financial Inc. purchased a new position in Merchants Bancorp (NASDAQ:MBIN) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 57,433 shares of the company’s stock, valued at approximately $2,095,000. Raymond James Financial Inc. owned about 0.13% of Merchants Bancorp at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MBIN. Elser Financial Planning Inc bought a new position in shares of Merchants Bancorp during the 4th quarter worth approximately $994,207,000. PL Capital Advisors LLC raised its position in shares of Merchants Bancorp by 3,547.0% in the 4th 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. Assenagon Asset Management S.A. grew its holdings in shares of Merchants Bancorp by 51.8% in the 4th 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 lifted its holdings in shares of Merchants Bancorp by 18.0% during the 4th quarter. Denali Advisors LLC now owns 182,606 shares of the company’s stock valued at $6,660,000 after purchasing an additional 27,817 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Merchants Bancorp by 351.8% during the third quarter. Barclays PLC now owns 28,312 shares of the company’s stock worth $1,273,000 after acquiring an additional 22,046 shares in the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Transactions at Merchants Bancorp

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp 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 of the company’s stock, valued at approximately $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 39.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MBIN shares. Morgan Stanley reduced their price target on 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. Piper Sandler lifted their target price 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. Finally, Raymond James reissued an “outperform” rating and issued a $53.00 target price (up previously from $50.00) on shares of Merchants Bancorp in a research report on Thursday, January 30th.

Merchants Bancorp Stock Performance

Shares of NASDAQ:MBIN opened at $37.04 on Monday. The company’s 50 day simple moving average is $40.22 and its 200 day simple moving average is $40.37. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. Merchants Bancorp has a 1 year low of $34.16 and a 1 year high of $53.27. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 5.87 and a beta of 1.16.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data on Monday, February 3rd. The company reported $1.85 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%. As a group, research analysts predict that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The business 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. This represents a $0.40 annualized dividend and a yield of 1.08%. The ex-dividend date is Friday, March 14th. Merchants Bancorp’s dividend payout ratio (DPR) is currently 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.