Cetera Investment Advisers Lowers Stake in Merchants Bancorp $MBIN

Cetera Investment Advisers reduced its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 17.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,128 shares of the company’s stock after selling 1,672 shares during the period. Cetera Investment Advisers’ holdings in Merchants Bancorp were worth $301,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MBIN. Dimensional Fund Advisors LP lifted its position in Merchants Bancorp by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company’s stock valued at $46,211,000 after acquiring an additional 132,841 shares during the period. Royce & Associates LP lifted its position in Merchants Bancorp by 21.2% during the 1st quarter. Royce & Associates LP now owns 686,507 shares of the company’s stock valued at $25,401,000 after acquiring an additional 120,262 shares during the period. Millennium Management LLC lifted its position in Merchants Bancorp by 214.1% during the 4th quarter. Millennium Management LLC now owns 126,087 shares of the company’s stock valued at $4,598,000 after acquiring an additional 85,948 shares during the period. Renaissance Technologies LLC increased its stake in Merchants Bancorp by 254.5% during the 4th quarter. Renaissance Technologies LLC now owns 87,200 shares of the company’s stock valued at $3,180,000 after purchasing an additional 62,600 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Merchants Bancorp during the 4th quarter valued at about $2,095,000. 24.57% of the stock is owned by hedge funds and other institutional investors.

Merchants Bancorp Stock Performance

Shares of MBIN stock opened at $32.35 on Wednesday. The company has a 50 day moving average price of $33.00 and a 200-day moving average price of $34.83. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $47.94. The firm has a market capitalization of $1.48 billion, a PE ratio of 7.11 and a beta of 1.30. The company has a quick ratio of 0.88, a current ratio of 1.20 and a debt-to-equity ratio of 2.45.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Monday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.52). The business had revenue of $179.20 million during the quarter, compared to analysts’ expectations of $161.10 million. Merchants Bancorp had a return on equity of 16.06% and a net margin of 18.06%. As a group, equities research analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley reduced their price objective on shares of Merchants Bancorp from $40.00 to $34.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 29th. Wall Street Zen lowered shares of Merchants Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Raymond James Financial restated an “outperform” rating and set a $40.00 price objective (down from $41.00) on shares of Merchants Bancorp in a research note on Tuesday, July 29th. Finally, Piper Sandler restated an “overweight” rating and set a $41.00 price objective (down from $42.00) on shares of Merchants Bancorp in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Merchants Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $38.33.

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.