PL Capital Advisors LLC Has $250.44 Million Stock Holdings in Merchants Bancorp (NASDAQ:MBIN)

PL Capital Advisors LLC lifted its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 3,547.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,867,082 shares of the company’s stock after purchasing an additional 6,678,788 shares during the quarter. Merchants Bancorp accounts for 2.9% of PL Capital Advisors LLC’s holdings, making the stock its 11th biggest holding. PL Capital Advisors LLC owned approximately 15.01% of Merchants Bancorp worth $250,442,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Raymond James & Associates increased its holdings in Merchants Bancorp by 16.0% in the 3rd quarter. Raymond James & Associates now owns 64,238 shares of the company’s stock valued at $2,888,000 after buying an additional 8,873 shares during the period. US Bancorp DE increased its stake in Merchants Bancorp by 8,677.6% in the third quarter. US Bancorp DE now owns 5,881 shares of the company’s stock valued at $264,000 after acquiring an additional 5,814 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Merchants Bancorp by 9.4% during the third quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company’s stock valued at $240,000 after purchasing an additional 460 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Merchants Bancorp during the third quarter worth $162,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Merchants Bancorp by 26.8% in the 3rd quarter. GSA Capital Partners LLP now owns 37,882 shares of the company’s stock valued at $1,703,000 after purchasing an additional 8,008 shares in the last quarter. Institutional investors own 24.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Piper Sandler boosted their price target on Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Raymond James reissued an “outperform” rating and set a $53.00 target price (up previously from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th.

Merchants Bancorp Trading Up 0.2 %

NASDAQ MBIN opened at $41.30 on Wednesday. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 6.55 and a beta of 1.15. Merchants Bancorp has a twelve month low of $34.16 and a twelve month high of $53.27. 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 fifty day moving average is $39.14 and its 200 day moving average is $41.22.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. As a group, sell-side analysts expect 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 0.97%. The ex-dividend date of this dividend is Friday, March 14th. Merchants Bancorp’s dividend payout ratio (DPR) is currently 6.34%.

Insiders Place Their Bets

In other news, insider Scott A. Evans sold 25,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 27,606 shares in the company, valued at approximately $1,189,818.60. The trade was a 47.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 39.70% of the company’s stock.

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.