Merchants Bancorp (NASDAQ:MBIN) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 45.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,648 shares of the company’s stock after buying an additional 1,463 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Merchants Bancorp were worth $198,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MBIN. SG Americas Securities LLC acquired a new position in shares of Merchants Bancorp in the third quarter valued at approximately $199,000. Arizona State Retirement System acquired a new position in shares of Merchants Bancorp in the fourth quarter valued at approximately $206,000. Meeder Advisory Services Inc. acquired a new position in shares of Merchants Bancorp in the third quarter valued at approximately $208,000. Yorktown Management & Research Co Inc acquired a new position in shares of Merchants Bancorp in the fourth quarter valued at approximately $375,000. Finally, Corton Capital Inc. increased its holdings in shares of Merchants Bancorp by 23.1% in the third quarter. Corton Capital Inc. now owns 13,875 shares of the company’s stock valued at $385,000 after purchasing an additional 2,607 shares during the period. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Stock Up 0.3 %

Merchants Bancorp stock opened at $46.99 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.77. Merchants Bancorp has a 1-year low of $22.18 and a 1-year high of $48.68. The company has a market cap of $2.04 billion, a PE ratio of 7.38 and a beta of 1.17. The stock’s 50 day moving average price is $41.51 and its 200 day moving average price is $39.15.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Monday, April 29th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.43. Merchants Bancorp had a return on equity of 27.51% and a net margin of 23.55%. The firm had revenue of $355.05 million for the quarter, compared to the consensus estimate of $144.15 million. On average, sell-side analysts predict that Merchants Bancorp will post 6.02 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.77%. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, March 14th. Merchants Bancorp’s payout ratio is presently 5.65%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MBIN shares. Piper Sandler reissued an “overweight” rating and issued a $58.50 target price (up previously from $53.00) on shares of Merchants Bancorp in a report on Friday, May 3rd. Raymond James lifted their price target on Merchants Bancorp from $44.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 30th.

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.