Barclays PLC Increases Stake in Merchants Bancorp (NASDAQ:MBIN)

Barclays PLC lifted its holdings in Merchants Bancorp (NASDAQ:MBIN) by 351.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,312 shares of the company’s stock after buying an additional 22,046 shares during the period. Barclays PLC owned approximately 0.06% of Merchants Bancorp worth $1,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Merchants Bancorp by 4.7% in the third quarter. State Street Corp now owns 448,525 shares of the company’s stock valued at $20,205,000 after purchasing an additional 20,214 shares during the last quarter. Banc Funds Co. LLC grew its stake in shares of Merchants Bancorp by 3.3% in the 3rd quarter. Banc Funds Co. LLC now owns 389,615 shares of the company’s stock valued at $17,517,000 after buying an additional 12,500 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Merchants Bancorp by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,319 shares of the company’s stock worth $914,000 after buying an additional 1,099 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Merchants Bancorp by 48.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 32,156 shares of the company’s stock valued at $1,446,000 after buying an additional 10,508 shares during the period. Finally, FMR LLC raised its position in shares of Merchants Bancorp by 214.5% during the 3rd quarter. FMR LLC now owns 3,957 shares of the company’s stock valued at $178,000 after buying an additional 2,699 shares during the period. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Insider Activity

In related news, Director Patrick D. O’brien acquired 40,000 shares of Merchants Bancorp stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the purchase, the director now owns 40,000 shares in the company, valued at approximately $1,000,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 39.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MBIN. Morgan Stanley assumed coverage on Merchants Bancorp in a research note on Monday, September 9th. They set an “equal weight” rating and a $54.00 target price for the company. Piper Sandler raised their price objective on Merchants Bancorp from $48.00 to $52.50 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Raymond James decreased their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th.

Merchants Bancorp Stock Down 1.6 %

Shares of NASDAQ MBIN opened at $36.34 on Monday. 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 business’s 50 day moving average is $39.40 and its two-hundred day moving average is $42.22. Merchants Bancorp has a 52-week low of $35.56 and a 52-week high of $53.27. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 6.02 and a beta of 1.13.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The firm had revenue of $355.67 million during the quarter, compared to analysts’ expectations of $156.13 million. During the same quarter in the prior year, the firm posted $1.68 EPS. Research analysts predict that Merchants Bancorp will post 5.74 EPS for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. Merchants Bancorp’s dividend payout ratio is presently 5.96%.

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.