The Manufacturers Life Insurance Company Has $465,000 Position in Merchants Bancorp (NASDAQ:MBIN)

The Manufacturers Life Insurance Company lowered its position in Merchants Bancorp (NASDAQ:MBIN) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,762 shares of the company’s stock after selling 365 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Merchants Bancorp were worth $465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Elser Financial Planning Inc acquired a new position in shares of Merchants Bancorp in the fourth quarter valued at approximately $994,207,000. PL Capital Advisors LLC increased its stake in shares of Merchants Bancorp by 3,547.0% in the fourth quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company’s stock valued at $250,442,000 after buying an additional 6,678,788 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Merchants Bancorp by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company’s stock valued at $46,211,000 after acquiring an additional 132,841 shares during the last quarter. Royce & Associates LP boosted its holdings in Merchants Bancorp by 15.5% in the fourth quarter. Royce & Associates LP now owns 566,245 shares of the company’s stock valued at $20,651,000 after acquiring an additional 76,056 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Merchants Bancorp by 11.5% in the fourth quarter. American Century Companies Inc. now owns 474,904 shares of the company’s stock valued at $17,320,000 after acquiring an additional 48,881 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MBIN. Raymond James reiterated an “outperform” rating and issued a $41.00 target price (down from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th. Piper Sandler upped their target price on Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Morgan Stanley reduced their target price on Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th.

Merchants Bancorp Price Performance

Merchants Bancorp stock opened at $33.37 on Friday. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 5.29 and a beta of 1.31. Merchants Bancorp has a 52-week low of $27.25 and a 52-week high of $53.27. The stock’s 50 day moving average price is $34.14 and its two-hundred day moving average price is $37.52. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.32). The business had revenue of $287.20 million for the quarter, compared to the consensus estimate of $169.00 million. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. On average, equities analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, June 13th. Merchants Bancorp’s payout ratio is 7.35%.

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.