American Century Companies Inc. Acquires 69,133 Shares of Merchants Bancorp (NASDAQ:MBIN)

American Century Companies Inc. grew its holdings in Merchants Bancorp (NASDAQ:MBIN) by 23.0% during the 2nd quarter, Holdings Channel reports. The fund owned 370,257 shares of the company’s stock after buying an additional 69,133 shares during the period. American Century Companies Inc.’s holdings in Merchants Bancorp were worth $15,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James & Associates raised its holdings in Merchants Bancorp by 0.8% in the 2nd quarter. Raymond James & Associates now owns 55,365 shares of the company’s stock worth $2,244,000 after purchasing an additional 414 shares during the period. Denali Advisors LLC raised its stake in shares of Merchants Bancorp by 0.8% in the first quarter. Denali Advisors LLC now owns 81,313 shares of the company’s stock worth $3,511,000 after buying an additional 680 shares during the period. Quest Partners LLC lifted its position in shares of Merchants Bancorp by 11.7% during the 2nd quarter. Quest Partners LLC now owns 9,913 shares of the company’s stock valued at $402,000 after buying an additional 1,039 shares in the last quarter. Twelve Points Wealth Management LLC grew its stake in shares of Merchants Bancorp by 3.8% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 32,846 shares of the company’s stock valued at $1,332,000 after acquiring an additional 1,195 shares during the period. Finally, nVerses Capital LLC increased its holdings in Merchants Bancorp by 650.0% in the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock worth $61,000 after acquiring an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Stock Down 3.4 %

NASDAQ MBIN opened at $45.57 on Friday. Merchants Bancorp has a 12 month low of $25.78 and a 12 month high of $53.27. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.98 billion, a PE ratio of 7.15 and a beta of 1.10. The stock’s 50 day moving average is $44.84 and its 200 day moving average is $42.56.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Monday, July 29th. The company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.08). The company had revenue of $359.62 million during the quarter, compared to analysts’ expectations of $160.70 million. Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. During the same period last year, the firm posted $1.31 EPS. Research analysts predict that Merchants Bancorp will post 6.09 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, September 13th. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.65%.

Insider Activity

In other news, CEO Michael R. Dury purchased 5,200 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $38.71 per share, with a total value of $201,292.00. Following the completion of the purchase, the chief executive officer now owns 93,793 shares in the company, valued at $3,630,727.03. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Merchants Bancorp news, CEO Michael R. Dury purchased 5,200 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $38.71 per share, with a total value of $201,292.00. Following the completion of the purchase, the chief executive officer now directly owns 93,793 shares in the company, valued at $3,630,727.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the transaction, the insider now owns 748,000 shares of the company’s stock, valued at approximately $32,912,000. The disclosure for this sale can be found here. Company insiders own 39.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Morgan Stanley initiated coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price target on the stock. Raymond James cut shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $58.00 in a research note on Tuesday, July 30th.

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.