Merchants Bancorp (NASDAQ:MBIN) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP reduced its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 17.2% in the 4th quarter, HoldingsChannel reports. The fund owned 31,667 shares of the company’s stock after selling 6,591 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Merchants Bancorp were worth $1,155,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MBIN. Elser Financial Planning Inc acquired a new position in shares of Merchants Bancorp during the 4th quarter worth about $994,207,000. PL Capital Advisors LLC boosted its position in shares of Merchants Bancorp by 3,547.0% during the 4th quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company’s stock worth $250,442,000 after acquiring an additional 6,678,788 shares in the last quarter. Moran Wealth Management LLC acquired a new stake in shares of Merchants Bancorp in the 4th quarter valued at about $3,524,000. Endeavour Capital Advisors Inc. acquired a new stake in shares of Merchants Bancorp in the 4th quarter valued at about $3,509,000. Finally, Royce & Associates LP boosted its position in shares of Merchants Bancorp by 15.5% in the 4th quarter. Royce & Associates LP now owns 566,245 shares of the company’s stock valued at $20,651,000 after purchasing an additional 76,056 shares during the period. 24.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MBIN. Piper Sandler upped their target price on Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Morgan Stanley decreased their target price on Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, Raymond James decreased their target price on Merchants Bancorp from $53.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd.

Insider Buying and Selling

In related news, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp 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 directly owns 27,606 shares of the company’s stock, valued at approximately $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 39.70% of the stock is currently owned by insiders.

Merchants Bancorp Stock Up 4.6 %

MBIN opened at $34.77 on Thursday. The business has a 50 day moving average price of $39.11 and a two-hundred day moving average price of $39.72. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. The company has a market cap of $1.59 billion, a PE ratio of 5.51 and a beta of 1.15. Merchants Bancorp has a 52 week low of $31.30 and a 52 week high of $53.27.

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

Merchants Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.15%. Merchants Bancorp’s payout ratio is currently 6.34%.

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.