Merchants Bancorp (NASDAQ:MBIN) Stock Position Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 45.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,648 shares of the company’s stock after acquiring an additional 1,463 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Merchants Bancorp were worth $198,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Merchants Bancorp in the third quarter worth approximately $199,000. Arizona State Retirement System bought a new stake in Merchants Bancorp in the fourth quarter worth approximately $206,000. Meeder Advisory Services Inc. bought a new stake in Merchants Bancorp in the third quarter worth approximately $208,000. Yorktown Management & Research Co Inc bought a new stake in Merchants Bancorp in the fourth quarter worth approximately $375,000. Finally, Corton Capital Inc. grew its position in Merchants Bancorp by 23.1% in the third quarter. Corton Capital Inc. now owns 13,875 shares of the company’s stock worth $385,000 after acquiring an additional 2,607 shares in the last quarter. 24.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MBIN has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $58.50 price objective (up from $53.00) on shares of Merchants Bancorp in a report on Friday, May 3rd. Raymond James upped their price objective on shares of Merchants Bancorp from $44.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 30th.

Merchants Bancorp Price Performance

NASDAQ MBIN opened at $46.99 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.77 and a debt-to-equity ratio of 0.80. The company has a fifty day simple moving average of $41.51 and a 200 day simple moving average of $39.15. The company has a market cap of $2.04 billion, a P/E ratio of 7.38 and a beta of 1.17. Merchants Bancorp has a 1 year low of $22.18 and a 1 year high of $48.68.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Monday, April 29th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.43. The business had revenue of $355.05 million during the quarter, compared to the consensus estimate of $144.15 million. Merchants Bancorp had a net margin of 23.55% and a return on equity of 27.51%. On average, sell-side analysts predict that Merchants Bancorp will post 6.02 EPS for the current year.

Merchants Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.09 per share. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, March 14th. Merchants Bancorp’s dividend payout ratio is presently 5.65%.

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.