Mach 1 Financial Group LLC Takes Position in Merchants Bancorp (NASDAQ:MBIN)

Mach 1 Financial Group LLC purchased a new position in shares of Merchants Bancorp (NASDAQ:MBIN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,955 shares of the company’s stock, valued at approximately $424,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in shares of Merchants Bancorp by 104.6% in the fourth quarter. Russell Investments Group Ltd. now owns 62,669 shares of the company’s stock worth $2,668,000 after acquiring an additional 32,034 shares in the last quarter. Semanteon Capital Management LP acquired a new position in shares of Merchants Bancorp in the 4th quarter valued at approximately $610,000. Wedge Capital Management L L P NC raised its holdings in Merchants Bancorp by 2.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 15,748 shares of the company’s stock valued at $671,000 after acquiring an additional 360 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in Merchants Bancorp by 94.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 109,732 shares of the company’s stock worth $4,672,000 after acquiring an additional 53,333 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Merchants Bancorp by 42,253.6% in the 4th quarter. Federated Hermes Inc. now owns 217,274 shares of the company’s stock worth $9,252,000 after purchasing an additional 216,761 shares during the last quarter. 24.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Raymond James lifted their price target on Merchants Bancorp from $44.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 30th.

Merchants Bancorp Stock Performance

Merchants Bancorp stock traded up $0.63 during mid-day trading on Wednesday, reaching $40.96. The company’s stock had a trading volume of 11,215 shares, compared to its average volume of 122,924. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 6.33 and a beta of 1.18. Merchants Bancorp has a twelve month low of $21.50 and a twelve month high of $48.68. The business has a 50 day moving average price of $41.17 and a 200-day moving average price of $38.53. The company has a current ratio of 0.99, a quick ratio of 0.77 and a debt-to-equity ratio of 0.80.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings data on Monday, April 29th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.43. The firm had revenue of $355.05 million for the quarter, compared to analyst estimates of $144.15 million. Merchants Bancorp had a net margin of 23.55% and a return on equity of 27.51%. Sell-side analysts predict that Merchants Bancorp will post 5.65 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.88%. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.08. Merchants Bancorp’s dividend payout ratio is currently 5.65%.

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.