Endeavour Capital Advisors Inc. Acquires Shares of 96,224 Merchants Bancorp (NASDAQ:MBIN)

Endeavour Capital Advisors Inc. acquired a new position in shares of Merchants Bancorp (NASDAQ:MBIN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 96,224 shares of the company’s stock, valued at approximately $3,509,000. Merchants Bancorp comprises approximately 1.1% of Endeavour Capital Advisors Inc.’s holdings, making the stock its 25th largest holding. Endeavour Capital Advisors Inc. owned about 0.21% of Merchants Bancorp as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Elser Financial Planning Inc bought a new position in shares of Merchants Bancorp in the fourth quarter worth $994,207,000. PL Capital Advisors LLC grew its holdings in Merchants Bancorp by 3,547.0% during the 4th quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company’s stock valued at $250,442,000 after buying an additional 6,678,788 shares in the last quarter. Moran Wealth Management LLC bought a new stake in shares of Merchants Bancorp during the fourth quarter valued at about $3,524,000. Royce & Associates LP lifted its stake in Merchants Bancorp by 15.5% in the 4th quarter. Royce & Associates LP now owns 566,245 shares of the company’s stock worth $20,651,000 after purchasing an additional 76,056 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Merchants Bancorp during the fourth quarter worth about $2,095,000. 24.57% of the stock is currently owned by institutional investors.

Merchants Bancorp Trading Down 0.4 %

Shares of Merchants Bancorp stock opened at $36.84 on Wednesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. Merchants Bancorp has a 1-year low of $34.16 and a 1-year high of $53.27. The company’s fifty day simple moving average is $40.13 and its 200-day simple moving average is $40.28. The stock has a market capitalization of $1.69 billion, a PE ratio of 5.84 and a beta of 1.16.

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

Merchants Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.10 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.09%. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.09. Merchants Bancorp’s dividend payout ratio (DPR) is currently 6.34%.

Analysts Set New Price Targets

MBIN has been the subject of a number of recent research reports. Raymond James restated an “outperform” rating and issued a $53.00 target price (up previously from $50.00) on shares of Merchants Bancorp in a research report on Thursday, January 30th. Morgan Stanley dropped their target price on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, Piper Sandler boosted their price target on Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a research report on Thursday, January 30th.

Insiders Place Their Bets

In related news, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total value of $1,077,500.00. Following the sale, the insider now directly owns 27,606 shares in the company, valued at approximately $1,189,818.60. The trade was a 47.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 39.70% of the stock is currently owned by insiders.

Merchants Bancorp Company 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.