Victory Capital Management Inc. Cuts Stake in Merchants Bancorp (NASDAQ:MBIN)

Victory Capital Management Inc. cut its stake in Merchants Bancorp (NASDAQ:MBINGet Rating) by 24.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,002 shares of the company’s stock after selling 4,271 shares during the quarter. Victory Capital Management Inc.’s holdings in Merchants Bancorp were worth $295,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Merchants Bancorp by 49.2% in the first quarter. BlackRock Inc. now owns 1,787,815 shares of the company’s stock valued at $48,949,000 after acquiring an additional 589,154 shares in the last quarter. Vanguard Group Inc. raised its stake in Merchants Bancorp by 31.4% in the 1st quarter. Vanguard Group Inc. now owns 788,591 shares of the company’s stock valued at $21,592,000 after purchasing an additional 188,466 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Merchants Bancorp by 53.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 388,830 shares of the company’s stock valued at $10,647,000 after purchasing an additional 136,211 shares in the last quarter. State Street Corp lifted its holdings in Merchants Bancorp by 51.9% in the 1st quarter. State Street Corp now owns 349,281 shares of the company’s stock valued at $9,587,000 after purchasing an additional 119,299 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Merchants Bancorp by 49.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 315,174 shares of the company’s stock worth $8,630,000 after purchasing an additional 103,961 shares during the last quarter. 22.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Merchants Bancorp news, Director Anne E. Sellers bought 4,000 shares of Merchants Bancorp stock in a transaction on Friday, September 23rd. The shares were bought at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $100,000. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Merchants Bancorp news, Director Anne E. Sellers acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was purchased at an average cost of $25.00 per share, with a total value of $100,000.00. Following the transaction, the director now owns 4,000 shares of the company’s stock, valued at $100,000. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Terry A. Oznick bought 2,000 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was bought at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the transaction, the senior vice president now directly owns 2,000 shares of the company’s stock, valued at $50,000. The disclosure for this purchase can be found here. 40.75% of the stock is currently owned by company insiders.

Merchants Bancorp Trading Down 2.4 %

Shares of MBIN opened at $23.70 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 1.66. The firm has a 50-day moving average price of $24.49 and a 200 day moving average price of $24.65. Merchants Bancorp has a 12-month low of $21.52 and a 12-month high of $33.57. The firm has a market capitalization of $1.02 billion, a P/E ratio of 4.68 and a beta of 1.10.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Wednesday, September 14th. Merchants Bancorp’s dividend payout ratio is presently 5.53%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MBIN. Raymond James dropped their price objective on shares of Merchants Bancorp from $37.00 to $32.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 6th. Piper Sandler cut their price target on Merchants Bancorp to $29.00 in a report on Tuesday, November 1st.

Merchants Bancorp Profile

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Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.

Further Reading

Institutional Ownership by Quarter for Merchants Bancorp (NASDAQ:MBIN)

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