Millennium Management LLC Boosts Stake in Merchants Bancorp (NASDAQ:MBIN)

Millennium Management LLC grew its stake in Merchants Bancorp (NASDAQ:MBIN) by 214.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,087 shares of the company’s stock after buying an additional 85,948 shares during the period. Millennium Management LLC owned 0.28% of Merchants Bancorp worth $4,598,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in shares of Merchants Bancorp in the fourth quarter worth $25,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Merchants Bancorp in the fourth quarter worth $79,000. Bank of Jackson Hole Trust acquired a new stake in shares of Merchants Bancorp in the fourth quarter worth $82,000. Tower Research Capital LLC TRC increased its stake in shares of Merchants Bancorp by 118.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company’s stock worth $130,000 after acquiring an additional 1,933 shares during the period. Finally, Inceptionr LLC increased its stake in shares of Merchants Bancorp by 13.7% in the fourth quarter. Inceptionr LLC now owns 5,718 shares of the company’s stock worth $209,000 after acquiring an additional 687 shares during the period. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MBIN. Wall Street Zen upgraded shares of Merchants Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Piper Sandler increased their target price on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Raymond James reissued an “outperform” rating and set a $41.00 target price (down from $45.00) on shares of Merchants Bancorp in a research note on Tuesday, April 29th. Finally, Morgan Stanley lowered their target price on shares of 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.

Merchants Bancorp Trading Down 1.5%

Shares of Merchants Bancorp stock opened at $32.55 on Thursday. The firm has a market capitalization of $1.49 billion, a PE ratio of 5.16 and a beta of 1.31. Merchants Bancorp has a twelve month low of $27.25 and a twelve month high of $53.27. The firm’s 50-day moving average price is $33.16 and its 200 day moving average price is $37.18. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

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

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, June 13th. Merchants Bancorp’s dividend payout ratio is presently 7.35%.

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.