Merchants Bancorp $MBIN Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 56.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,629 shares of the company’s stock after purchasing an additional 31,433 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.19% of Merchants Bancorp worth $3,205,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MBIN. Cetera Investment Advisers raised its stake in shares of Merchants Bancorp by 4.0% during the 4th quarter. Cetera Investment Advisers now owns 9,800 shares of the company’s stock worth $357,000 after buying an additional 381 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Merchants Bancorp by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,292 shares of the company’s stock worth $375,000 after acquiring an additional 392 shares in the last quarter. Victory Capital Management Inc. raised its position in Merchants Bancorp by 3.8% during the first quarter. Victory Capital Management Inc. now owns 11,891 shares of the company’s stock worth $440,000 after acquiring an additional 432 shares during the period. Signaturefd LLC lifted its holdings in Merchants Bancorp by 182.2% during the first quarter. Signaturefd LLC now owns 731 shares of the company’s stock valued at $27,000 after purchasing an additional 472 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in Merchants Bancorp by 1.1% during the first quarter. LPL Financial LLC now owns 48,429 shares of the company’s stock valued at $1,792,000 after purchasing an additional 526 shares in the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Merchants Bancorp Trading Up 5.0%

MBIN opened at $33.29 on Friday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.20 and a quick ratio of 0.88. The company’s 50 day simple moving average is $33.02 and its two-hundred day simple moving average is $34.63. Merchants Bancorp has a 1-year low of $27.25 and a 1-year high of $47.94. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 7.32 and a beta of 1.30.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results 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). Merchants Bancorp had a net margin of 18.06% and a return on equity of 16.06%. The company had revenue of $179.20 million during the quarter, compared to analysts’ expectations of $161.10 million. Analysts expect that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, September 15th. Merchants Bancorp’s dividend payout ratio is presently 8.79%.

Analyst Upgrades and Downgrades

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

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.