10,397 Shares in Merchants Bancorp $MBIN Bought by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in shares of Merchants Bancorp (NASDAQ:MBIN) during the 4th quarter, Holdings Channel.com reports. The fund acquired 10,397 shares of the company’s stock, valued at approximately $355,000.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Merchants Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock worth $397,000 after buying an additional 449 shares during the period. Invesco Ltd. increased its position in Merchants Bancorp by 1.5% in the 4th quarter. Invesco Ltd. now owns 45,818 shares of the company’s stock valued at $1,561,000 after acquiring an additional 667 shares during the period. Swiss National Bank increased its position in Merchants Bancorp by 1.8% in the 4th quarter. Swiss National Bank now owns 40,700 shares of the company’s stock valued at $1,386,000 after acquiring an additional 700 shares during the period. Legal & General Group Plc raised its stake 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 acquiring an additional 795 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake 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 acquiring an additional 865 shares during the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MBIN has been the topic of several analyst reports. Morgan Stanley reiterated a “positive” rating and issued a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a research note on Monday, June 29th. Piper Sandler restated an “overweight” rating and set a $58.00 price target on shares of Merchants Bancorp in a research note on Wednesday, April 29th. Raymond James Financial downgraded Merchants Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Weiss Ratings raised Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Finally, Zacks Research lowered shares of Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Merchants Bancorp Stock Down 1.2%

Merchants Bancorp stock opened at $49.71 on Friday. The stock’s 50 day moving average price is $47.91 and its 200 day moving average price is $44.25. Merchants Bancorp has a 1-year low of $28.75 and a 1-year high of $51.47. The company has a market cap of $2.28 billion, a PE ratio of 12.12 and a beta of 1.14. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.26 and a quick ratio of 0.89.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.09. Merchants Bancorp had a return on equity of 13.40% and a net margin of 16.64%.The firm had revenue of $175.25 million during the quarter, compared to analysts’ expectations of $174.30 million. On average, sell-side analysts predict that Merchants Bancorp will post 5.15 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were issued 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 was Monday, June 15th. Merchants Bancorp’s dividend payout ratio (DPR) is currently 10.73%.

About Merchants Bancorp

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.