Nuveen LLC Acquires New Shares in Merchants Bancorp $MBIN

Nuveen LLC acquired a new stake in shares of Merchants Bancorp (NASDAQ:MBIN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 142,571 shares of the company’s stock, valued at approximately $5,275,000. Nuveen LLC owned about 0.31% of Merchants Bancorp at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers boosted its position in Merchants Bancorp by 4.0% during the fourth quarter. Cetera Investment Advisers now owns 9,800 shares of the company’s stock valued at $357,000 after purchasing an additional 381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Merchants Bancorp by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,292 shares of the company’s stock valued at $375,000 after purchasing an additional 392 shares during the last quarter. Victory Capital Management Inc. boosted 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 valued at $440,000 after purchasing an additional 432 shares during the last quarter. Signaturefd LLC boosted its position 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 during the last quarter. Finally, LPL Financial LLC boosted its position 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 during the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, CAO Darin L. Thomas acquired 3,353 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average price of $29.71 per share, with a total value of $99,617.63. Following the transaction, the chief accounting officer owned 2,250 shares of the company’s stock, valued at approximately $66,847.50. This trade represents a -303.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 34.80% of the company’s stock.

Merchants Bancorp Price Performance

NASDAQ MBIN opened at $32.32 on Tuesday. Merchants Bancorp has a twelve month low of $27.25 and a twelve month high of $47.42. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.88 and a current ratio of 1.20. The stock has a market capitalization of $1.48 billion, a PE ratio of 7.10 and a beta of 1.30. The stock has a 50-day simple moving average of $33.04 and a 200 day simple moving average of $34.50.

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

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, September 15th. Merchants Bancorp’s payout ratio is currently 8.79%.

Wall Street Analyst Weigh In

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

About Merchants Bancorp

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.