Vanguard Group Inc. Sells 35,224 Shares of Merchants Bancorp (NASDAQ:MBIN)

Vanguard Group Inc. reduced its position in Merchants Bancorp (NASDAQ:MBIN) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,207,854 shares of the company’s stock after selling 35,224 shares during the period. Vanguard Group Inc. owned 2.64% of Merchants Bancorp worth $44,050,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its position in Merchants Bancorp by 214.5% in the third quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after purchasing an additional 2,699 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Merchants Bancorp by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,319 shares of the company’s stock valued at $914,000 after purchasing an additional 1,099 shares during the last quarter. State Street Corp grew its position in shares of Merchants Bancorp by 4.7% during the 3rd quarter. State Street Corp now owns 448,525 shares of the company’s stock worth $20,205,000 after buying an additional 20,214 shares during the period. Barclays PLC raised its stake in shares of Merchants Bancorp by 351.8% during the third quarter. Barclays PLC now owns 28,312 shares of the company’s stock worth $1,273,000 after buying an additional 22,046 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Merchants Bancorp by 3.0% in the third quarter. Geode Capital Management LLC now owns 566,520 shares of the company’s stock valued at $25,476,000 after buying an additional 16,666 shares during the period. Institutional investors own 24.57% of the company’s stock.

Analyst Ratings Changes

MBIN has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Piper Sandler lifted their price objective on Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Raymond James cut their target price on Merchants Bancorp from $53.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd.

Insider Transactions at Merchants Bancorp

In related news, insider Scott A. Evans sold 25,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the completion of the sale, the insider now directly owns 27,606 shares of the company’s stock, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 39.70% of the stock is currently owned by insiders.

Merchants Bancorp Stock Down 3.1 %

Shares of NASDAQ:MBIN opened at $31.38 on Friday. The company has a 50 day moving average price of $38.73 and a two-hundred day moving average price of $39.54. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The company has a market capitalization of $1.44 billion, a PE ratio of 4.97 and a beta of 1.15. Merchants Bancorp has a 52 week low of $31.06 and a 52 week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.10 dividend. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, March 14th. Merchants Bancorp’s dividend payout ratio is 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.