Rhumbline Advisers Reduces Position in Merchants Bancorp (NASDAQ:MBIN)

Rhumbline Advisers reduced its position in Merchants Bancorp (NASDAQ:MBIN) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,288 shares of the company’s stock after selling 1,465 shares during the quarter. Rhumbline Advisers owned approximately 0.06% of Merchants Bancorp worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Kestra Investment Management LLC purchased a new position in Merchants Bancorp during the 4th quarter valued at approximately $25,000. Cubist Systematic Strategies LLC purchased a new stake in Merchants Bancorp in the fourth quarter worth about $79,000. Bank of Jackson Hole Trust bought a new position in Merchants Bancorp in the fourth quarter worth approximately $82,000. Tower Research Capital LLC TRC raised its holdings in Merchants Bancorp by 118.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company’s stock worth $130,000 after purchasing an additional 1,933 shares in the last quarter. Finally, Inceptionr LLC increased its position in shares of Merchants Bancorp by 13.7% during the fourth quarter. Inceptionr LLC now owns 5,718 shares of the company’s stock worth $209,000 after purchasing an additional 687 shares in the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Analysts Set New Price Targets

MBIN has been the topic of several research analyst reports. Raymond James Financial reissued an “outperform” rating and set a $41.00 target price (down previously from $45.00) on shares of Merchants Bancorp in a research report on Tuesday, April 29th. Morgan Stanley decreased their price objective on shares of Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, Wall Street Zen raised Merchants Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, June 14th.

Merchants Bancorp Stock Up 2.1%

MBIN opened at $31.31 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.20 and a debt-to-equity ratio of 2.49. Merchants Bancorp has a twelve month low of $27.25 and a twelve month high of $53.27. The company has a market cap of $1.44 billion, a PE ratio of 5.76 and a beta of 1.29. The company has a 50-day moving average price of $31.99 and a 200 day moving average price of $36.29.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.32). Merchants Bancorp had a return on equity of 19.09% and a net margin of 20.73%. The business had revenue of $287.20 million for the quarter, compared to analyst estimates of $169.00 million. Sell-side analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.28%. Merchants Bancorp’s dividend payout ratio (DPR) is 7.35%.

Merchants Bancorp 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.