Royce & Associates LP Has $20.65 Million Holdings in Merchants Bancorp (NASDAQ:MBIN)

Royce & Associates LP increased its holdings in Merchants Bancorp (NASDAQ:MBIN) by 15.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 566,245 shares of the company’s stock after buying an additional 76,056 shares during the period. Royce & Associates LP owned 1.24% of Merchants Bancorp worth $20,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MBIN. Victory Capital Management Inc. raised its position in shares of Merchants Bancorp by 3.7% in the third quarter. Victory Capital Management Inc. now owns 12,734 shares of the company’s stock valued at $573,000 after buying an additional 456 shares in the last quarter. Foundry Partners LLC bought a new position in Merchants Bancorp in the third quarter valued at approximately $3,477,000. Siena Capital Partners GP LLC bought a new position in Merchants Bancorp in the third quarter valued at approximately $822,000. FMR LLC increased its stake in Merchants Bancorp by 214.5% in the third quarter. FMR LLC now owns 3,957 shares of the company’s stock valued at $178,000 after acquiring an additional 2,699 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Merchants Bancorp by 48.5% in the third quarter. BNP Paribas Financial Markets now owns 32,156 shares of the company’s stock valued at $1,446,000 after acquiring an additional 10,508 shares during the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MBIN has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Morgan Stanley decreased their target price on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Raymond James reaffirmed an “outperform” rating and set a $53.00 target price (up previously from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th.

Merchants Bancorp Stock Performance

NASDAQ MBIN opened at $37.90 on Monday. The firm’s fifty day moving average price is $39.83 and its two-hundred day moving average price is $40.78. The stock has a market cap of $1.74 billion, a PE ratio of 6.01 and a beta of 1.16. Merchants Bancorp has a fifty-two week low of $34.16 and a fifty-two week high of $53.27. 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 (NASDAQ:MBIN) last issued its quarterly earnings data on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. On average, equities analysts expect that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.10 dividend. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.06%. Merchants Bancorp’s payout ratio is currently 6.34%.

Insider Buying and Selling

In related news, insider Scott A. Evans sold 25,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total value of $1,077,500.00. Following the sale, the insider now owns 27,606 shares of the company’s stock, valued at $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 is available through the SEC website. 39.70% of the stock is currently owned by insiders.

About Merchants Bancorp

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.