Quantbot Technologies LP Purchases 8,908 Shares of Merchants Bancorp (NASDAQ:MBIN)

Quantbot Technologies LP lifted its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 106.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,262 shares of the company’s stock after purchasing an additional 8,908 shares during the quarter. Quantbot Technologies LP’s holdings in Merchants Bancorp were worth $630,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MBIN. Elser Financial Planning Inc bought a new position in Merchants Bancorp during the fourth quarter worth about $994,207,000. Valeo Financial Advisors LLC raised its position in shares of Merchants Bancorp by 3.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 225,419 shares of the company’s stock worth $8,221,000 after purchasing an additional 6,882 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Merchants Bancorp by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 566,520 shares of the company’s stock valued at $25,476,000 after purchasing an additional 16,666 shares in the last quarter. State Street Corp grew its position in shares of 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 purchasing an additional 20,214 shares during the period. Finally, Barclays PLC increased its stake in Merchants Bancorp by 351.8% during the 3rd quarter. Barclays PLC now owns 28,312 shares of the company’s stock worth $1,273,000 after purchasing an additional 22,046 shares in the last quarter. Institutional investors own 24.57% of the company’s stock.

Analysts Set New Price Targets

MBIN has been the topic of a number of research reports. Piper Sandler lifted their price target on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Raymond James reaffirmed an “outperform” rating and issued a $53.00 price objective (up from $50.00) on shares of Merchants Bancorp in a research report on Thursday, January 30th. Finally, Morgan Stanley lowered their target price on Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th.

Insider Activity at Merchants Bancorp

In other news, insider Scott A. Evans sold 25,000 shares of the company’s stock in a transaction that occurred 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 represents a 47.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 39.70% of the company’s stock.

Merchants Bancorp Price Performance

NASDAQ MBIN opened at $38.00 on Friday. The firm’s 50 day moving average is $40.26 and its 200-day moving average is $40.44. 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 company has a market capitalization of $1.74 billion, a PE ratio of 6.02 and a beta of 1.16. Merchants Bancorp has a 12-month low of $34.16 and a 12-month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly 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 research analysts anticipate that Merchants Bancorp will post 5.54 earnings per share 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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.09. Merchants Bancorp’s dividend payout ratio is presently 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.