Endeavour Capital Advisors Inc. Invests $3.51 Million in Merchants Bancorp (NASDAQ:MBIN)

Endeavour Capital Advisors Inc. acquired a new position in shares of Merchants Bancorp (NASDAQ:MBIN) in the fourth quarter, HoldingsChannel reports. The firm acquired 96,224 shares of the company’s stock, valued at approximately $3,509,000. Merchants Bancorp accounts for approximately 1.1% of Endeavour Capital Advisors Inc.’s holdings, making the stock its 25th biggest position.

Several other institutional investors and hedge funds have also modified their holdings of MBIN. Kestra Investment Management LLC acquired a new position in shares of Merchants Bancorp in the 4th quarter valued at $25,000. Bank of Jackson Hole Trust acquired a new position in Merchants Bancorp during the fourth quarter valued at approximately $82,000. Matrix Trust Co increased its position in shares of Merchants Bancorp by 730.8% in the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock worth $96,000 after acquiring an additional 2,324 shares in the last quarter. FMR LLC lifted its holdings in shares of Merchants Bancorp by 214.5% during the 3rd quarter. FMR LLC now owns 3,957 shares of the company’s stock valued at $178,000 after acquiring an additional 2,699 shares in the last quarter. Finally, Hohimer Wealth Management LLC purchased a new stake in Merchants Bancorp during the 3rd quarter worth $202,000. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Stock Performance

Shares of NASDAQ MBIN opened at $36.84 on Wednesday. The business’s 50-day simple moving average is $40.13 and its 200-day simple moving average is $40.28. 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 has a 52 week low of $34.16 and a 52 week high of $53.27. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 5.84 and a beta of 1.16.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. As a group, equities research analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.09%. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, March 14th. Merchants Bancorp’s payout ratio is currently 6.34%.

Analyst Ratings Changes

A number of research firms recently weighed in on MBIN. Piper Sandler raised their price target on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a report on Thursday, January 30th. Morgan Stanley lowered their price objective on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, Raymond James reiterated an “outperform” rating and set a $53.00 price objective (up previously from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th.

Insider Transactions at Merchants Bancorp

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the sale, the insider now directly owns 27,606 shares of the company’s stock, valued at approximately $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 39.70% of the stock is 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.