UBS Group AG Grows Stock Position in Merchants Bancorp $MBIN

UBS Group AG grew its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 84.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,592 shares of the company’s stock after acquiring an additional 34,603 shares during the quarter. UBS Group AG owned about 0.16% of Merchants Bancorp worth $2,575,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MBIN. Millennium Management LLC increased its stake in Merchants Bancorp by 135.6% during the third quarter. Millennium Management LLC now owns 365,075 shares of the company’s stock worth $11,609,000 after acquiring an additional 210,151 shares during the last quarter. Two Sigma Investments LP increased its stake in Merchants Bancorp by 1,509.5% during the third quarter. Two Sigma Investments LP now owns 175,754 shares of the company’s stock worth $5,589,000 after acquiring an additional 164,834 shares during the last quarter. Doma Perpetual Capital Management LLC acquired a new stake in Merchants Bancorp during the third quarter worth about $2,984,000. Royce & Associates LP increased its stake in Merchants Bancorp by 10.2% during the third quarter. Royce & Associates LP now owns 862,119 shares of the company’s stock worth $27,415,000 after acquiring an additional 79,707 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Merchants Bancorp by 10.9% during the third quarter. American Century Companies Inc. now owns 630,077 shares of the company’s stock worth $20,036,000 after acquiring an additional 62,097 shares during the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Price Performance

MBIN stock opened at $46.78 on Wednesday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.89 and a current ratio of 1.26. Merchants Bancorp has a 1 year low of $28.75 and a 1 year high of $50.26. The firm has a market cap of $2.15 billion, a P/E ratio of 11.41 and a beta of 1.16. The stock has a 50-day simple moving average of $45.61 and a 200-day simple moving average of $40.26.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Tuesday, April 28th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. Merchants Bancorp had a return on equity of 13.40% and a net margin of 16.64%.The business had revenue of $175.25 million during the quarter, compared to analyst estimates of $174.30 million. On average, equities analysts predict that Merchants Bancorp will post 5.21 earnings per share for the current fiscal year.

Merchants Bancorp announced that its board has initiated a share repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.11 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. Merchants Bancorp’s dividend payout ratio (DPR) is 10.73%.

Wall Street Analyst Weigh In

MBIN has been the subject of several research analyst reports. Zacks Research lowered Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Piper Sandler restated an “overweight” rating and set a $58.00 price target on shares of Merchants Bancorp in a research note on Wednesday, April 29th. Morgan Stanley upped their price target on Merchants Bancorp from $42.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Finally, Raymond James Financial restated an “outperform” rating and set a $51.00 price target on shares of Merchants Bancorp in a research note on Thursday, April 30th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Merchants Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Merchants Bancorp Company Profile

Merchants Bancorp (NASDAQ: MBIN) is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company’s primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.