Elser Financial Planning Inc Makes New $994.21 Million Investment in Merchants Bancorp (NASDAQ:MBIN)

Elser Financial Planning Inc bought a new position in Merchants Bancorp (NASDAQ:MBIN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 27,260,950 shares of the company’s stock, valued at approximately $994,207,000. Merchants Bancorp accounts for about 59.5% of Elser Financial Planning Inc’s investment portfolio, making the stock its largest position. Elser Financial Planning Inc owned approximately 59.57% of Merchants Bancorp at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its position in shares of Merchants Bancorp by 3.7% during the 3rd quarter. Victory Capital Management Inc. now owns 12,734 shares of the company’s stock valued at $573,000 after acquiring an additional 456 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Merchants Bancorp by 9.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company’s stock valued at $240,000 after acquiring an additional 460 shares during the period. CWM LLC grew its position in shares of Merchants Bancorp by 209.4% during the 3rd quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after acquiring an additional 869 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Merchants Bancorp by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,319 shares of the company’s stock valued at $914,000 after acquiring an additional 1,099 shares during the period. Finally, Twelve Points Wealth Management LLC grew its position in shares of Merchants Bancorp by 3.5% during the 3rd quarter. Twelve Points Wealth Management LLC now owns 34,012 shares of the company’s stock valued at $1,529,000 after acquiring an additional 1,166 shares during the period. Institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Trading Down 0.1 %

Shares of Merchants Bancorp stock opened at $43.06 on Monday. The company has a market capitalization of $1.97 billion, a P/E ratio of 6.82 and a beta of 1.15. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The company has a fifty day moving average of $38.38 and a 200 day moving average of $41.42. Merchants Bancorp has a fifty-two week low of $34.16 and a fifty-two week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Monday, February 3rd. The company reported $1.85 earnings per share 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%. On average, sell-side analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.84%. The ex-dividend date was Friday, December 13th. Merchants Bancorp’s payout ratio is currently 5.71%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MBIN. Piper Sandler boosted their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Raymond James reissued an “outperform” rating and set a $53.00 price objective (up previously from $50.00) on shares of Merchants Bancorp in a research report on Thursday, January 30th.

Insiders Place Their Bets

In other news, insider Scott A. Evans sold 25,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were 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 in the company, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick D. O’brien bought 40,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $1,000,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 39.70% of the company’s stock.

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.