Moran Wealth Management LLC Buys New Shares in Merchants Bancorp (NASDAQ:MBIN)

Moran Wealth Management LLC acquired a new stake in Merchants Bancorp (NASDAQ:MBIN) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 96,640 shares of the company’s stock, valued at approximately $3,524,000.

A number of other hedge funds also recently made changes to their positions in the business. Kestra Investment Management LLC bought a new stake in shares of Merchants Bancorp in the 4th quarter worth about $25,000. Bank of Jackson Hole Trust acquired a new stake in Merchants Bancorp during the 4th quarter worth approximately $82,000. Matrix Trust Co raised its holdings in Merchants Bancorp by 730.8% during the 4th quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock worth $96,000 after buying an additional 2,324 shares during the period. FMR LLC grew its stake in shares of Merchants Bancorp by 214.5% during the 3rd quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after acquiring an additional 2,699 shares in the last quarter. Finally, Hohimer Wealth Management LLC bought a new position in shares of Merchants Bancorp during the 3rd quarter worth approximately $202,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Buying and Selling at Merchants Bancorp

In other news, insider Scott A. Evans sold 25,000 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the completion of the transaction, the insider now owns 27,606 shares in the company, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 39.70% of the company’s stock.

Merchants Bancorp Stock Performance

NASDAQ:MBIN opened at $36.62 on Tuesday. The stock has a market cap of $1.68 billion, a P/E ratio of 5.80 and a beta of 1.16. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The stock’s 50-day moving average is $39.80 and its 200-day moving average is $41.04. Merchants Bancorp has a 1-year low of $34.16 and a 1-year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. Equities research analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.10 dividend. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Friday, March 14th. Merchants Bancorp’s dividend payout ratio is presently 6.34%.

Analysts Set New Price Targets

MBIN has been the subject of several analyst reports. Raymond James reissued an “outperform” rating and issued a $53.00 target price (up from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th. Piper Sandler lifted their target price on Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a report on Thursday, January 30th.

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.