PL Capital Advisors LLC Has $250.44 Million Holdings in Merchants Bancorp (NASDAQ:MBIN)

PL Capital Advisors LLC lifted its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 3,547.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,867,082 shares of the company’s stock after buying an additional 6,678,788 shares during the period. Merchants Bancorp accounts for about 2.9% of PL Capital Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. PL Capital Advisors LLC owned approximately 0.15% of Merchants Bancorp worth $250,442,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Kestra Investment Management LLC acquired a new stake in Merchants Bancorp in the fourth quarter worth $25,000. Bank of Jackson Hole Trust bought a new position in shares of Merchants Bancorp during the 4th quarter worth about $82,000. Matrix Trust Co grew its stake in shares of Merchants Bancorp by 730.8% in the 4th quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock valued at $96,000 after buying an additional 2,324 shares during the period. Catalyst Capital Advisors LLC bought a new stake in Merchants Bancorp in the 3rd quarter valued at about $162,000. Finally, FMR LLC increased its position in Merchants Bancorp by 214.5% in the 3rd quarter. FMR LLC now owns 3,957 shares of the company’s stock valued at $178,000 after buying an additional 2,699 shares in the last quarter. Institutional investors own 24.57% of the company’s stock.

Insider Transactions at Merchants Bancorp

In related news, insider Scott A. Evans sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the transaction, the insider now directly owns 27,606 shares of the company’s stock, valued at $1,189,818.60. This trade represents a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 39.70% of the company’s stock.

Merchants Bancorp Price Performance

Shares of NASDAQ MBIN opened at $41.30 on Wednesday. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 6.55 and a beta of 1.15. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. Merchants Bancorp has a fifty-two week low of $34.16 and a fifty-two week high of $53.27. The firm’s 50-day simple moving average is $39.14 and its 200 day simple moving average is $41.22.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, beating 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 earnings per share for the current fiscal year.

Merchants Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, March 14th. Merchants Bancorp’s payout ratio is currently 6.34%.

Analyst Ratings Changes

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