Harbor Advisors LLC Makes New $738,000 Investment in Merchants Bancorp (NASDAQ:MBIN)

Harbor Advisors LLC acquired a new position in shares of Merchants Bancorp (NASDAQ:MBIN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,232 shares of the company’s stock, valued at approximately $738,000.

Several other large investors have also recently added to or reduced their stakes in MBIN. Kestra Investment Management LLC bought a new stake in Merchants Bancorp during the fourth quarter worth about $25,000. Bank of Jackson Hole Trust bought a new stake in Merchants Bancorp during the fourth quarter worth about $82,000. Matrix Trust Co grew its stake in Merchants Bancorp by 730.8% during the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock worth $96,000 after buying an additional 2,324 shares during the last quarter. FMR LLC grew its stake in Merchants Bancorp by 214.5% during the third quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after buying an additional 2,699 shares during the last quarter. Finally, Hohimer Wealth Management LLC bought a new stake in Merchants Bancorp during the third quarter worth about $202,000. 24.57% of the stock is owned by institutional investors.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the firm’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 directly owns 27,606 shares of the company’s stock, valued at approximately $1,189,818.60. This trade represents a 47.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 39.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on MBIN shares. Raymond James reaffirmed an “outperform” rating and set a $53.00 price objective (up from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th. Piper Sandler increased 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. Finally, Morgan Stanley decreased their price target on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th.

Merchants Bancorp Price Performance

MBIN opened at $38.22 on Friday. Merchants Bancorp has a one year low of $34.16 and a one year high of $53.27. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The company’s 50 day simple moving average is $40.13 and its 200-day simple moving average is $40.57. The stock has a market capitalization of $1.75 billion, a P/E ratio of 6.06 and a beta of 1.16.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. Sell-side analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.10 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.05%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 6.34%.

Merchants Bancorp 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.