Raymond James & Associates Has $1.45 Million Position in Merchants Bancorp (NASDAQ:MBIN)

Raymond James & Associates reduced its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,953 shares of the company’s stock after selling 548 shares during the period. Raymond James & Associates owned about 0.08% of Merchants Bancorp worth $1,446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MBIN. Los Angeles Capital Management LLC raised its holdings in Merchants Bancorp by 85.9% during the third quarter. Los Angeles Capital Management LLC now owns 76,330 shares of the company’s stock worth $2,116,000 after acquiring an additional 35,280 shares in the last quarter. Bailard Inc. bought a new stake in Merchants Bancorp during the third quarter worth about $227,000. Corton Capital Inc. raised its holdings in Merchants Bancorp by 23.1% during the third quarter. Corton Capital Inc. now owns 13,875 shares of the company’s stock worth $385,000 after acquiring an additional 2,607 shares in the last quarter. Twelve Points Wealth Management LLC raised its holdings in Merchants Bancorp by 3.8% during the fourth quarter. Twelve Points Wealth Management LLC now owns 31,733 shares of the company’s stock worth $1,351,000 after acquiring an additional 1,170 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Merchants Bancorp by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 185,332 shares of the company’s stock worth $5,137,000 after acquiring an additional 10,211 shares in the last quarter. 24.57% of the stock is owned by institutional investors and hedge funds.

Merchants Bancorp Price Performance

NASDAQ:MBIN opened at $39.15 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average price is $41.35 and its two-hundred day moving average price is $37.76. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 6.94 and a beta of 1.18. Merchants Bancorp has a 12-month low of $21.50 and a 12-month high of $48.68.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings data on Monday, January 29th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.14. The firm had revenue of $346.21 million for the quarter, compared to analyst estimates of $142.65 million. Merchants Bancorp had a return on equity of 25.38% and a net margin of 23.42%. On average, analysts anticipate that Merchants Bancorp will post 5.65 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.09 dividend. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.92%. Merchants Bancorp’s dividend payout ratio is currently 6.38%.

Wall Street Analysts Forecast Growth

Separately, Raymond James upped their target price on Merchants Bancorp from $44.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, 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.