Denali Advisors LLC Buys 27,817 Shares of Merchants Bancorp (NASDAQ:MBIN)

Denali Advisors LLC boosted its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 18.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 182,606 shares of the company’s stock after purchasing an additional 27,817 shares during the quarter. Denali Advisors LLC owned 0.40% of Merchants Bancorp worth $6,660,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new position in Merchants Bancorp in the fourth quarter valued at about $25,000. Bank of Jackson Hole Trust bought a new position in Merchants Bancorp in the fourth quarter valued at approximately $82,000. Matrix Trust Co boosted its holdings in shares of Merchants Bancorp by 730.8% in the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock valued at $96,000 after buying an additional 2,324 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of Merchants Bancorp during the third quarter worth $162,000. Finally, FMR LLC raised its holdings in shares of 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 acquiring an additional 2,699 shares during the period. Institutional investors own 24.57% of the company’s stock.

Insiders Place Their Bets

In related news, insider Scott A. Evans sold 25,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the transaction, the insider now directly owns 27,606 shares in the company, valued at approximately $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 39.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MBIN shares. Piper Sandler upped their target price on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. 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 report on Thursday, January 30th.

Merchants Bancorp Stock Performance

Shares of MBIN opened at $41.30 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. Merchants Bancorp has a 12 month low of $34.16 and a 12 month high of $53.27. The firm has a fifty day simple moving average of $39.14 and a 200 day simple moving average of $41.22. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 6.55 and a beta of 1.15.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Monday, February 3rd. The company reported $1.85 EPS for the quarter, topping 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%. Research analysts forecast that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The business also recently declared 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. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, March 14th. Merchants Bancorp’s dividend payout ratio (DPR) is currently 6.34%.

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.