LPL Financial LLC Increases Position in Merchants Bancorp (NASDAQ:MBIN)

LPL Financial LLC grew its position in Merchants Bancorp (NASDAQ:MBIN) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,903 shares of the company’s stock after purchasing an additional 527 shares during the quarter. LPL Financial LLC owned approximately 0.10% of Merchants Bancorp worth $1,747,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MBIN. Elser Financial Planning Inc purchased a new stake in Merchants Bancorp in the 4th quarter valued at $994,207,000. Valeo Financial Advisors LLC grew its position in Merchants Bancorp by 3.1% during the 4th quarter. Valeo Financial Advisors LLC now owns 225,419 shares of the company’s stock worth $8,221,000 after purchasing an additional 6,882 shares during the last quarter. Geode Capital Management LLC increased its stake 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 purchasing an additional 16,666 shares during the period. State Street Corp raised its holdings in shares of Merchants Bancorp by 4.7% in the third quarter. State Street Corp now owns 448,525 shares of the company’s stock valued at $20,205,000 after buying an additional 20,214 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Merchants Bancorp by 85.3% during the third quarter. Franklin Resources Inc. now owns 33,338 shares of the company’s stock worth $1,504,000 after buying an additional 15,342 shares during the period. 24.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MBIN shares. Morgan Stanley lowered their target price on 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. Raymond James lowered their price objective on shares of Merchants Bancorp from $53.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. Finally, Piper Sandler boosted their price objective 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.

Merchants Bancorp Trading Down 1.0 %

NASDAQ MBIN opened at $32.05 on Thursday. The company has a market cap of $1.47 billion, a P/E ratio of 5.08 and a beta of 1.15. Merchants Bancorp has a 12 month low of $31.06 and a 12 month 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 has a 50-day moving average of $38.08 and a 200-day moving average of $39.32.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Monday, February 3rd. The company reported $1.85 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%. As a group, equities analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued 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 1.25%. The ex-dividend date was Friday, March 14th. Merchants Bancorp’s dividend payout ratio (DPR) is currently 6.34%.

Insider Transactions at Merchants Bancorp

In other Merchants Bancorp 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 completion of the sale, the insider now owns 27,606 shares in the company, valued at $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 39.70% of the company’s stock.

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.