Hsbc Holdings PLC purchased a new position in shares of Merchants Bancorp (NASDAQ:MBIN – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,397 shares of the company’s stock, valued at approximately $355,000.
A number of other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Merchants Bancorp in the 4th quarter valued at $34,000. Tower Research Capital LLC TRC grew its stake in shares of Merchants Bancorp by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock worth $73,000 after purchasing an additional 1,153 shares in the last quarter. Brevan Howard Capital Management LP increased its holdings in Merchants Bancorp by 16.7% in the second quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company’s stock valued at $228,000 after buying an additional 984 shares during the last quarter. Numerai GP LLC purchased a new position in Merchants Bancorp in the fourth quarter valued at $254,000. Finally, Caxton Associates LLP acquired a new stake in Merchants Bancorp in the third quarter valued at $256,000. 24.57% of the stock is owned by hedge funds and other institutional investors.
Merchants Bancorp Stock Performance
NASDAQ MBIN opened at $49.71 on Friday. The company has a fifty day moving average of $47.91 and a two-hundred day moving average of $44.25. The company has a market capitalization of $2.28 billion, a PE ratio of 12.12 and a beta of 1.14. Merchants Bancorp has a 1 year low of $28.75 and a 1 year high of $51.47. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.26 and a quick ratio of 0.89.
Merchants Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.11 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.9%. Merchants Bancorp’s payout ratio is currently 10.73%.
Wall Street Analysts Forecast Growth
MBIN has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $58.00 price target on shares of Merchants Bancorp in a report on Wednesday, April 29th. Morgan Stanley reissued a “positive” rating and set a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a research report on Monday, June 29th. Weiss Ratings upgraded Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Raymond James Financial downgraded Merchants Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Finally, Zacks Research lowered shares of Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 30th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Merchants Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $50.00.
Check Out Our Latest Analysis on Merchants Bancorp
Merchants Bancorp 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 fullāservice 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.
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