Merchants Bancorp (NASDAQ:MBIN) Stake Reduced by Peloton Wealth Strategists

Peloton Wealth Strategists cut its holdings in Merchants Bancorp (NASDAQ:MBIN) by 5.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,735 shares of the company’s stock after selling 390 shares during the quarter. Peloton Wealth Strategists’ holdings in Merchants Bancorp were worth $273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Merchants Bancorp by 21.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 224,580 shares of the company’s stock worth $9,563,000 after buying an additional 39,248 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Merchants Bancorp by 191.6% in the 4th quarter. BNP Paribas Financial Markets now owns 14,632 shares of the company’s stock valued at $623,000 after buying an additional 9,614 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Merchants Bancorp by 14.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 795,381 shares of the company’s stock valued at $33,869,000 after buying an additional 102,051 shares in the last quarter. Alpha DNA Investment Management LLC bought a new stake in shares of Merchants Bancorp in the 4th quarter valued at approximately $473,000. Finally, Elizabeth Park Capital Advisors Ltd. bought a new stake in shares of Merchants Bancorp in the 4th quarter valued at approximately $2,289,000. 24.57% of the stock is currently owned by institutional investors.

Insider Transactions at Merchants Bancorp

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

Analyst Ratings Changes

A number of brokerages have issued reports on MBIN. Raymond James cut Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $58.00 in a research report on Tuesday, July 30th. Morgan Stanley began coverage on Merchants Bancorp in a research report on Monday, September 9th. They set an “equal weight” rating and a $54.00 target price for the company.

Merchants Bancorp Stock Up 0.3 %

Shares of Merchants Bancorp stock opened at $44.52 on Friday. The stock has a market capitalization of $1.93 billion, a P/E ratio of 6.99 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average price of $44.61 and a two-hundred day moving average price of $42.57. Merchants Bancorp has a 12-month low of $25.78 and a 12-month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Monday, July 29th. The company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.08). Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. The company had revenue of $359.62 million for the quarter, compared to the consensus estimate of $160.70 million. During the same period in the previous year, the company earned $1.31 EPS. Equities analysts expect that Merchants Bancorp will post 6.09 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.81%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.65%.

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.