Merchants Bancorp (NASDAQ:MBIN) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 28.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,426 shares of the company’s stock after purchasing an additional 4,990 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Merchants Bancorp were worth $818,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MBIN. Kestra Investment Management LLC acquired a new position in shares of Merchants Bancorp during the fourth quarter worth about $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Merchants Bancorp during the 4th quarter worth $82,000. Matrix Trust Co grew its stake in shares of 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 purchasing an additional 2,324 shares in the last quarter. Inceptionr LLC grew its stake in shares of Merchants Bancorp by 13.7% during the fourth quarter. Inceptionr LLC now owns 5,718 shares of the company’s stock worth $209,000 after purchasing an additional 687 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Merchants Bancorp in the fourth quarter valued at $293,000. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Stock Up 1.9 %

MBIN opened at $31.31 on Friday. Merchants Bancorp has a one year low of $27.25 and a one year high of $53.27. 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 stock has a market capitalization of $1.44 billion, a P/E ratio of 4.96 and a beta of 1.15. The business’s 50-day simple moving average is $35.53 and its 200-day simple moving average is $38.29.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, April 28th. The company reported $0.93 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.32). Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. The firm had revenue of $287.20 million for the quarter, compared to analyst estimates of $169.00 million. Analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.10 dividend. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 14th. This represents a $0.40 annualized dividend and a yield of 1.28%. Merchants Bancorp’s dividend payout ratio is 6.34%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Raymond James reaffirmed an “outperform” rating and set a $41.00 price objective (down from $45.00) on shares of Merchants Bancorp in a research report on Tuesday. 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 cut their price objective on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th.

About Merchants Bancorp

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.