UBS Group AG raised its holdings in shares of Merchants Bancorp (NASDAQ:MBIN – Free Report) by 84.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,592 shares of the company’s stock after purchasing an additional 34,603 shares during the quarter. UBS Group AG’s holdings in Merchants Bancorp were worth $2,575,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Merchants Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock valued at $397,000 after purchasing an additional 449 shares during the period. Legal & General Group Plc boosted its position in Merchants Bancorp by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 21,677 shares of the company’s stock valued at $717,000 after purchasing an additional 795 shares during the period. Harbor Capital Advisors Inc. boosted its position in Merchants Bancorp by 12.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 7,846 shares of the company’s stock valued at $267,000 after purchasing an additional 865 shares during the period. Osaic Holdings Inc. raised its stake in Merchants Bancorp by 6.6% during the 2nd quarter. Osaic Holdings Inc. now owns 14,376 shares of the company’s stock valued at $475,000 after acquiring an additional 884 shares in the last quarter. Finally, Brevan Howard Capital Management LP raised its stake in Merchants Bancorp by 16.7% during the 2nd quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company’s stock valued at $228,000 after acquiring an additional 984 shares in the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.
Merchants Bancorp Stock Up 1.7%
Shares of Merchants Bancorp stock opened at $46.78 on Wednesday. The business’s fifty day moving average price is $45.61 and its two-hundred day moving average price is $40.26. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.26 and a quick ratio of 0.89. The company has a market capitalization of $2.15 billion, a P/E ratio of 11.41 and a beta of 1.16. Merchants Bancorp has a 1-year low of $28.75 and a 1-year high of $50.26.
Merchants Bancorp announced that its board has approved a share buyback program on Wednesday, January 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
Merchants Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 15th. Merchants Bancorp’s payout ratio is currently 10.73%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on MBIN. Weiss Ratings raised Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Piper Sandler reaffirmed an “overweight” rating and set a $58.00 target price on shares of Merchants Bancorp in a research note on Wednesday, April 29th. Zacks Research downgraded Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 30th. Raymond James Financial reaffirmed an “outperform” rating and set a $51.00 target price on shares of Merchants Bancorp in a research note on Thursday, April 30th. Finally, Morgan Stanley lifted their target price on Merchants Bancorp from $42.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.50.
Read Our Latest Stock 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 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.
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