Rhumbline Advisers Has $1.14 Million Position in Merchants Bancorp (NASDAQ:MBIN)

Rhumbline Advisers lifted its stake in Merchants Bancorp (NASDAQ:MBIN) by 11.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,124 shares of the company’s stock after acquiring an additional 2,971 shares during the quarter. Rhumbline Advisers’ holdings in Merchants Bancorp were worth $1,140,000 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. nVerses Capital LLC increased its position in Merchants Bancorp by 650.0% during the second quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock worth $61,000 after buying an additional 1,300 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Merchants Bancorp by 11.7% in the second quarter. Principal Financial Group Inc. now owns 15,108 shares of the company’s stock valued at $612,000 after buying an additional 1,580 shares during the period. Rosenthal Henry Capital Advisors Inc. lifted its stake in shares of Merchants Bancorp by 92.0% in the second quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,602 shares of the company’s stock valued at $2,538,000 after buying an additional 30,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Merchants Bancorp by 79.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock valued at $193,000 after buying an additional 2,101 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Merchants Bancorp by 75.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 142,553 shares of the company’s stock worth $5,779,000 after purchasing an additional 61,292 shares during the period. 24.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael R. Dury purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average price of $44.82 per share, with a total value of $268,920.00. Following the completion of the purchase, the chief executive officer now directly owns 88,593 shares of the company’s stock, valued at approximately $3,970,738.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Merchants Bancorp news, CEO Michael F. Petrie sold 22,050 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the transaction, the chief executive officer now owns 1,990,545 shares of the company’s stock, valued at $90,251,310.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael R. Dury bought 6,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was bought at an average cost of $44.82 per share, for a total transaction of $268,920.00. Following the purchase, the chief executive officer now directly owns 88,593 shares of the company’s stock, valued at approximately $3,970,738.26. The disclosure for this purchase can be found here. 39.70% of the stock is currently owned by insiders.

Merchants Bancorp Price Performance

Shares of MBIN stock opened at $45.57 on Monday. The stock’s fifty day moving average is $44.84 and its 200-day moving average is $42.55. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.01. The stock has a market capitalization of $1.98 billion, a PE ratio of 7.15 and a beta of 1.10. Merchants Bancorp has a 52 week low of $25.78 and a 52 week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced 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 business had revenue of $359.62 million for the quarter, compared to the consensus estimate of $160.70 million. Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. During the same quarter in the previous year, the company posted $1.31 EPS. Equities research analysts expect that Merchants Bancorp will post 6.09 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 payout ratio is presently 5.65%.

Analyst Ratings Changes

MBIN has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of Merchants Bancorp in a research note on Monday, September 9th. They set an “equal weight” rating and a $54.00 price target for the company. 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.