15,224 Shares in Merchants Bancorp $MBIN Bought by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC bought a new position in shares of Merchants Bancorp (NASDAQ:MBIN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,224 shares of the company’s stock, valued at approximately $484,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MBIN. Royal Bank of Canada increased its stake in Merchants Bancorp by 1.0% in the 1st quarter. Royal Bank of Canada now owns 220,170 shares of the company’s stock worth $8,146,000 after purchasing an additional 2,101 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Merchants Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock worth $397,000 after buying an additional 449 shares during the period. Jane Street Group LLC increased its position in shares of Merchants Bancorp by 60.3% in the first 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 in the last quarter. CWM LLC raised its holdings in shares of Merchants Bancorp by 121.6% during the second quarter. CWM LLC now owns 3,010 shares of the company’s stock valued at $100,000 after acquiring an additional 1,652 shares during the period. Finally, AlphaQuest LLC lifted its position in shares of Merchants Bancorp by 278.6% in the 2nd quarter. AlphaQuest LLC now owns 11,234 shares of the company’s stock valued at $372,000 after acquiring an additional 8,267 shares in the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Trading Up 1.7%

NASDAQ MBIN opened at $43.29 on Thursday. Merchants Bancorp has a 1-year low of $27.25 and a 1-year high of $48.50. The company has a current ratio of 1.10, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $1.99 billion, a PE ratio of 11.45 and a beta of 1.27. The firm’s fifty day simple moving average is $38.64 and its 200-day simple moving average is $34.63.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings data on Wednesday, January 28th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.34. Merchants Bancorp had a return on equity of 13.35% and a net margin of 16.02%.The firm had revenue of $168.05 million during the quarter, compared to analysts’ expectations of $170.80 million. As a group, sell-side analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp declared that its board has authorized a share repurchase plan on Wednesday, January 28th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Merchants Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.10. Merchants Bancorp’s dividend payout ratio (DPR) is presently 10.58%.

Insider Buying and Selling

In related news, insider Martin A. Schroeter sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $46.06, for a total transaction of $253,330.00. Following the transaction, the insider owned 10,881 shares of the company’s stock, valued at approximately $501,178.86. This trade represents a 33.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 34.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Merchants Bancorp in a research report on Monday, December 29th. Wall Street Zen upgraded Merchants Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Piper Sandler reissued an “overweight” rating and set a $42.00 price target (up from $41.00) on shares of Merchants Bancorp in a research report on Thursday, October 30th. UBS Group set a $42.00 price objective on Merchants Bancorp in a research note on Thursday, October 30th. Finally, Zacks Research raised Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.