Merchants Bancorp $MBIN Stock Holdings Lifted by American Century Companies Inc.

American Century Companies Inc. grew its position in Merchants Bancorp (NASDAQ:MBIN) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 630,077 shares of the company’s stock after purchasing an additional 62,097 shares during the period. American Century Companies Inc. owned about 1.37% of Merchants Bancorp worth $20,036,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Merchants Bancorp by 17.4% in the 2nd quarter. Geode Capital Management LLC now owns 681,486 shares of the company’s stock valued at $22,539,000 after buying an additional 101,139 shares in the last quarter. Ballast Asset Management LP bought a new stake in Merchants Bancorp in the second quarter worth approximately $2,529,000. Ameriprise Financial Inc. increased its stake in shares of Merchants Bancorp by 48.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 133,325 shares of the company’s stock worth $4,409,000 after purchasing an additional 43,225 shares during the last quarter. Denali Advisors LLC increased its stake in shares of Merchants Bancorp by 19.4% during the 3rd quarter. Denali Advisors LLC now owns 239,414 shares of the company’s stock worth $7,613,000 after purchasing an additional 38,904 shares during the last quarter. Finally, Jump Financial LLC bought a new position in shares of Merchants Bancorp during the 2nd quarter valued at $1,146,000. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Merchants Bancorp

In related news, insider Martin A. Schroeter sold 5,500 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $46.06, for a total transaction of $253,330.00. Following the transaction, the insider owned 10,881 shares of the company’s stock, valued at approximately $501,178.86. The trade was a 33.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 34.80% of the company’s stock.

Merchants Bancorp Price Performance

NASDAQ MBIN opened at $41.91 on Tuesday. The stock has a 50-day simple moving average of $39.94 and a 200 day simple moving average of $35.23. Merchants Bancorp has a twelve month low of $27.25 and a twelve month high of $48.50. The stock has a market capitalization of $1.93 billion, a PE ratio of 11.09 and a beta of 1.25. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.86 and a current ratio of 1.16.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Wednesday, January 28th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.34. The firm had revenue of $185.29 million for the quarter, compared to analyst estimates of $170.80 million. Merchants Bancorp had a return on equity of 13.17% and a net margin of 16.02%. Research analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp declared that its board has initiated a stock repurchase program on Wednesday, January 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Merchants Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be paid a $0.11 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 1.0%. Merchants Bancorp’s dividend payout ratio is 10.58%.

Analysts Set New Price Targets

MBIN has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Merchants Bancorp in a research note on Monday, December 29th. Zacks Research upgraded Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Morgan Stanley boosted their price target on Merchants Bancorp from $42.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Merchants Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $43.25.

Merchants Bancorp Company Profile

Merchants Bancorp (NASDAQ: MBIN) is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company’s primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.