Louisiana State Employees Retirement System Makes New Investment in Merchants Bancorp $MBIN

Louisiana State Employees Retirement System bought a new stake in shares of Merchants Bancorp (NASDAQ:MBIN) during the first quarter, HoldingsChannel reports. The institutional investor bought 13,000 shares of the company’s stock, valued at approximately $558,000.

Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in Merchants Bancorp by 1.0% in the first quarter. Royal Bank of Canada now owns 220,170 shares of the company’s stock valued at $8,146,000 after buying an additional 2,101 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Merchants Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock worth $397,000 after acquiring an additional 449 shares during the period. Jane Street Group LLC grew its holdings in Merchants Bancorp by 60.3% during the 1st quarter. Jane Street Group LLC now owns 32,874 shares of the company’s stock worth $1,216,000 after acquiring an additional 12,361 shares during the period. Legal & General Group Plc raised its position in shares of Merchants Bancorp by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 21,677 shares of the company’s stock valued at $717,000 after acquiring an additional 795 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Merchants Bancorp by 41.5% during the 2nd quarter. Rhumbline Advisers now owns 38,622 shares of the company’s stock valued at $1,277,000 after acquiring an additional 11,334 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Stock Performance

MBIN opened at $47.46 on Wednesday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 11.58 and a beta of 1.14. The business’s 50-day moving average price is $47.68 and its two-hundred day moving average price is $43.53. Merchants Bancorp has a 1 year low of $28.75 and a 1 year high of $51.47. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.26 and a quick ratio of 0.89.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. Merchants Bancorp had a return on equity of 13.40% and a net margin of 16.64%.The business had revenue of $175.25 million during the quarter, compared to the consensus estimate of $174.30 million. Equities analysts expect that Merchants Bancorp will post 5.15 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, June 15th. Merchants Bancorp’s dividend payout ratio (DPR) is currently 10.73%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Zacks Research lowered Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 30th. Morgan Stanley reiterated a “positive” rating and issued a $49.00 price objective (up from $46.00) on shares of Merchants Bancorp in a report on Monday, June 29th. Piper Sandler reissued an “overweight” rating and issued a $58.00 target price on shares of Merchants Bancorp in a research note on Wednesday, April 29th. Weiss Ratings upgraded Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Finally, Raymond James Financial lowered Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.00.

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.