Merchants Bancorp (NASDAQ:MBIN) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its position in Merchants Bancorp (NASDAQ:MBIN) by 3.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 566,520 shares of the company’s stock after purchasing an additional 16,666 shares during the period. Geode Capital Management LLC’s holdings in Merchants Bancorp were worth $25,476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC grew its stake in Merchants Bancorp by 351.8% in the 3rd quarter. Barclays PLC now owns 28,312 shares of the company’s stock valued at $1,273,000 after acquiring an additional 22,046 shares during the last quarter. State Street Corp lifted its holdings in shares of Merchants Bancorp by 4.7% in the third quarter. State Street Corp now owns 448,525 shares of the company’s stock valued at $20,205,000 after purchasing an additional 20,214 shares in the last quarter. Banc Funds Co. LLC grew its position in shares of Merchants Bancorp by 3.3% in the third quarter. Banc Funds Co. LLC now owns 389,615 shares of the company’s stock valued at $17,517,000 after purchasing an additional 12,500 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Merchants Bancorp by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,319 shares of the company’s stock valued at $914,000 after purchasing an additional 1,099 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Merchants Bancorp by 48.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 32,156 shares of the company’s stock worth $1,446,000 after purchasing an additional 10,508 shares in the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MBIN. Piper Sandler increased their target price on Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Morgan Stanley initiated coverage on Merchants Bancorp in a research note on Monday, September 9th. They set an “equal weight” rating and a $54.00 price objective on the stock. Finally, Raymond James dropped their price objective on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th.

Merchants Bancorp Stock Down 1.6 %

Shares of NASDAQ MBIN opened at $36.34 on Friday. The firm has a market cap of $1.66 billion, a P/E ratio of 6.02 and a beta of 1.13. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. Merchants Bancorp has a 1 year low of $35.56 and a 1 year high of $53.27. The firm’s 50 day moving average price is $39.40 and its 200 day moving average price is $42.20.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.25). The business had revenue of $355.67 million for the quarter, compared to analyst estimates of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same quarter last year, the business earned $1.68 EPS. As a group, sell-side analysts anticipate that Merchants Bancorp will post 5.74 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, December 13th. Merchants Bancorp’s dividend payout ratio (DPR) is 5.96%.

Insider Buying and Selling at Merchants Bancorp

In related news, Director Patrick D. O’brien purchased 40,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were bought at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the purchase, the director now directly owns 40,000 shares in the company, valued at approximately $1,000,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 39.70% of the stock is owned by company insiders.

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.