Strs Ohio Purchases Shares of 15,000 Merchants Bancorp $MBIN

Strs Ohio bought a new position in shares of Merchants Bancorp (NASDAQ:MBIN) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,000 shares of the company’s stock, valued at approximately $555,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MBIN. Signaturefd LLC increased its position in Merchants Bancorp by 182.2% during the first quarter. Signaturefd LLC now owns 731 shares of the company’s stock worth $27,000 after buying an additional 472 shares during the period. CWM LLC increased its position in Merchants Bancorp by 168.9% during the first quarter. CWM LLC now owns 1,358 shares of the company’s stock worth $50,000 after buying an additional 853 shares during the period. Matrix Trust Co increased its position in Merchants Bancorp by 45.0% during the first quarter. Matrix Trust Co now owns 3,830 shares of the company’s stock worth $142,000 after buying an additional 1,188 shares during the period. Harbor Capital Advisors Inc. increased its position in Merchants Bancorp by 26.8% during the first quarter. Harbor Capital Advisors Inc. now owns 6,641 shares of the company’s stock worth $246,000 after buying an additional 1,402 shares during the period. Finally, GAMMA Investing LLC increased its position in Merchants Bancorp by 4,443.0% during the first quarter. GAMMA Investing LLC now owns 7,178 shares of the company’s stock worth $266,000 after buying an additional 7,020 shares during the period. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Buying and Selling at Merchants Bancorp

In related news, CAO Darin L. Thomas bought 3,353 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was bought 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 directly owned 2,250 shares of the company’s stock, valued at approximately $66,847.50. This represents a -303.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.80% of the stock is owned by insiders.

Merchants Bancorp Stock Performance

Shares of NASDAQ:MBIN opened at $32.22 on Friday. The firm has a market capitalization of $1.48 billion, a PE ratio of 7.08 and a beta of 1.30. 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 business has a 50-day moving average of $32.54 and a two-hundred day moving average of $33.31. Merchants Bancorp has a 12 month low of $27.25 and a 12 month high of $47.02.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.60 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%. As a group, research analysts forecast 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. Shareholders of record on Monday, September 15th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, September 15th. This represents a $0.40 annualized dividend and a yield of 1.2%. Merchants Bancorp’s dividend payout ratio is currently 8.79%.

Wall Street Analyst Weigh In

Several research firms have commented on MBIN. Raymond James Financial reaffirmed an “outperform” rating and set a $40.00 price target (down previously from $41.00) on shares of Merchants Bancorp in a research report on Tuesday, July 29th. Morgan Stanley cut their price target on Merchants Bancorp from $40.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 29th. Piper Sandler reiterated an “overweight” rating and issued a $41.00 target price (down from $42.00) on shares of Merchants Bancorp in a research note on Wednesday, July 30th. Finally, Wall Street Zen downgraded Merchants Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.