Vanguard Group Inc. Grows Stake in Merchants Bancorp $MBIN

Vanguard Group Inc. increased its stake in Merchants Bancorp (NASDAQ:MBIN) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,233,965 shares of the company’s stock after acquiring an additional 26,111 shares during the period. Vanguard Group Inc. owned approximately 2.69% of Merchants Bancorp worth $45,657,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MBIN. Wells Fargo & Company MN grew its stake in shares of Merchants Bancorp by 10.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,610 shares of the company’s stock valued at $496,000 after buying an additional 1,303 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Merchants Bancorp by 28.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 22,426 shares of the company’s stock worth $818,000 after buying an additional 4,990 shares during the period. Raymond James Financial Inc. purchased a new stake in Merchants Bancorp during the fourth quarter worth $2,095,000. Barclays PLC lifted its holdings in Merchants Bancorp by 11.9% during the fourth quarter. Barclays PLC now owns 31,681 shares of the company’s stock worth $1,155,000 after buying an additional 3,369 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Merchants Bancorp by 10.6% during the 4th quarter. First Trust Advisors LP now owns 136,329 shares of the company’s stock valued at $4,972,000 after purchasing an additional 13,056 shares during the last quarter. Institutional investors own 24.57% of the company’s stock.

Insider Buying and Selling at Merchants Bancorp

In related news, CAO Darin L. Thomas acquired 3,353 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $29.71 per share, with a total value of $99,617.63. Following the completion of the transaction, the chief accounting officer owned 2,250 shares of the company’s stock, valued at $66,847.50. The trade was a -303.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 34.80% of the company’s stock.

Merchants Bancorp Stock Down 2.9%

MBIN stock opened at $32.32 on Tuesday. The firm has a market cap of $1.48 billion, a PE ratio of 7.10 and a beta of 1.30. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.88 and a current ratio of 1.20. Merchants Bancorp has a one year low of $27.25 and a one year high of $47.42. The firm’s 50 day moving average price is $33.04 and its 200-day moving average price is $34.50.

Merchants Bancorp (NASDAQ:MBIN) last announced its 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). The firm had revenue of $179.20 million during the quarter, compared to analysts’ expectations of $161.10 million. Merchants Bancorp had a net margin of 18.06% and a return on equity of 16.06%. On average, equities research analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

MBIN has been the subject of several analyst reports. Piper Sandler reiterated an “overweight” rating and set a $41.00 price objective (down previously from $42.00) on shares of Merchants Bancorp in a report on Wednesday, July 30th. Morgan Stanley reduced their price objective on 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 Merchants Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. 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 research report on Tuesday, July 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Merchants Bancorp presently has a consensus rating of “Moderate Buy” and an average price target 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.