Intech Investment Management LLC Sells 4,172 Shares of Merchants Bancorp $MBIN

Intech Investment Management LLC lessened its holdings in Merchants Bancorp (NASDAQ:MBIN) by 30.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,597 shares of the company’s stock after selling 4,172 shares during the quarter. Intech Investment Management LLC’s holdings in Merchants Bancorp were worth $317,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CWM LLC lifted 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 purchasing an additional 853 shares during the period. Matrix Trust Co lifted its stake in Merchants Bancorp by 10.3% during the second quarter. Matrix Trust Co now owns 4,226 shares of the company’s stock worth $140,000 after purchasing an additional 396 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Merchants Bancorp by 51.9% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,867 shares of the company’s stock valued at $194,000 after purchasing an additional 2,004 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Merchants Bancorp in the 2nd quarter valued at $229,000. Finally, Corton Capital Inc. acquired a new position in shares of Merchants Bancorp during the 2nd quarter worth $263,000. 24.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $42.00 target price (up previously from $41.00) on shares of Merchants Bancorp in a research report on Thursday, October 30th. Morgan Stanley restated an “underperform” rating and set a $39.00 price objective (up previously from $34.00) on shares of Merchants Bancorp in a research report on Monday, September 29th. Raymond James Financial reiterated an “outperform” rating and issued a $38.00 target price (down from $40.00) on shares of Merchants Bancorp in a research report on Wednesday, October 29th. UBS Group set a $42.00 price target on Merchants Bancorp in a report on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Merchants Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Merchants Bancorp presently has a consensus rating of “Hold” and a consensus price target of $40.25.

Merchants Bancorp Price Performance

Shares of NASDAQ:MBIN opened at $32.67 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.88 and a debt-to-equity ratio of 2.45. The stock has a market cap of $1.50 billion, a PE ratio of 7.51 and a beta of 1.33. The stock’s fifty day simple moving average is $31.87 and its two-hundred day simple moving average is $32.41. Merchants Bancorp has a 1-year low of $27.25 and a 1-year high of $43.82.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.18. The business had revenue of $171.07 million during the quarter, compared to the consensus estimate of $163.90 million. Merchants Bancorp had a net margin of 17.73% and a return on equity of 15.37%. As a group, analysts forecast that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.40 annualized dividend and a yield of 1.2%. Merchants Bancorp’s payout ratio is 9.20%.

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.