Rhumbline Advisers Has $1.01 Million Stock Holdings in Merchants Bancorp $MBIN

Rhumbline Advisers cut its stake in Merchants Bancorp (NASDAQ:MBIN) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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.

A number of other hedge funds have also modified their holdings of MBIN. Signaturefd LLC boosted its holdings in Merchants Bancorp by 182.2% in the first quarter. Signaturefd LLC now owns 731 shares of the company’s stock worth $27,000 after purchasing an additional 472 shares in the last quarter. CWM LLC boosted its holdings in Merchants Bancorp by 168.9% in the first quarter. CWM LLC now owns 1,358 shares of the company’s stock worth $50,000 after purchasing an additional 853 shares in the last quarter. Matrix Trust Co boosted its holdings in Merchants Bancorp by 45.0% in the first quarter. Matrix Trust Co now owns 3,830 shares of the company’s stock worth $142,000 after purchasing an additional 1,188 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Merchants Bancorp by 26.8% in the first quarter. Harbor Capital Advisors Inc. now owns 6,641 shares of the company’s stock worth $246,000 after purchasing an additional 1,402 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Merchants Bancorp by 4,443.0% in the first quarter. GAMMA Investing LLC now owns 7,178 shares of the company’s stock worth $266,000 after purchasing an additional 7,020 shares in the last quarter. 24.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Morgan Stanley decreased 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 report on Tuesday, July 29th. Piper Sandler restated an “overweight” rating and set a $41.00 price target (down from $42.00) on shares of Merchants Bancorp in a report on Wednesday, July 30th. Raymond James Financial restated an “outperform” rating and set a $40.00 price target (down from $41.00) on shares of Merchants Bancorp in a report on Tuesday, July 29th. Finally, Wall Street Zen cut shares of Merchants Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Merchants Bancorp Stock Performance

Shares of NASDAQ:MBIN opened at $32.22 on Friday. The company’s 50 day moving average price is $32.54 and its two-hundred day moving average price is $33.31. Merchants Bancorp has a 12-month low of $27.25 and a 12-month high of $47.02. The firm has a market cap of $1.48 billion, a PE ratio of 7.08 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 results on Monday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.52). The firm had revenue of $179.20 million for the quarter, compared to analyst estimates of $161.10 million. Merchants Bancorp had a return on equity of 16.06% and a net margin of 18.06%. Equities research analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The company also recently declared 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. The ex-dividend date is Monday, September 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. Merchants Bancorp’s dividend payout ratio (DPR) is currently 8.79%.

Insider Activity

In related news, CAO Darin L. Thomas acquired 3,353 shares of the company’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 purchase, the chief accounting officer directly owned 2,250 shares in the company, valued at approximately $66,847.50. This trade represents a -303.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 34.80% of the company’s stock.

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.