Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,101 Shares of Merchants Bancorp (NASDAQ:MBIN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 79.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,755 shares of the company’s stock after buying an additional 2,101 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Merchants Bancorp were worth $193,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in Merchants Bancorp by 91.5% in the second quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock worth $10,721,000 after acquiring an additional 126,375 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Merchants Bancorp by 14.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 795,381 shares of the company’s stock valued at $33,869,000 after acquiring an additional 102,051 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Merchants Bancorp by 441.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company’s stock valued at $4,608,000 after buying an additional 87,012 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Merchants Bancorp during the 4th quarter worth approximately $2,658,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Merchants Bancorp by 75.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 142,553 shares of the company’s stock valued at $5,779,000 after buying an additional 61,292 shares during the period. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Trading Down 2.2 %

Shares of MBIN opened at $42.43 on Tuesday. Merchants Bancorp has a 1-year low of $25.78 and a 1-year high of $53.27. The firm’s 50-day moving average price is $44.29 and its 200-day moving average price is $42.40. 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 firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 6.66 and a beta of 1.10.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data 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). The company had revenue of $359.62 million for the quarter, compared to analysts’ expectations of $160.70 million. Merchants Bancorp had a net margin of 23.14% and a return on equity of 25.54%. During the same quarter in the previous year, the firm posted $1.31 EPS. Sell-side analysts anticipate that Merchants Bancorp will post 6.21 EPS for the current year.

Merchants Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.85%. Merchants Bancorp’s dividend payout ratio (DPR) is 5.65%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MBIN. Piper Sandler reiterated an “overweight” rating and issued a $56.00 price target (down from $58.50) on shares of Merchants Bancorp in a research report on Friday, May 17th. Raymond James cut shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $58.00 in a research report on Tuesday, July 30th. Finally, Morgan Stanley started coverage on Merchants Bancorp in a research note on Monday. They set an “equal weight” rating and a $54.00 price target for the company.

Insider Buying and Selling

In other news, CEO Michael R. Dury acquired 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was bought at an average price of $44.82 per share, with a total value of $268,920.00. Following the completion of the acquisition, the chief executive officer now directly 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 through this hyperlink. In other Merchants Bancorp news, CEO Michael R. Dury bought 5,200 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $38.71 per share, for a total transaction of $201,292.00. Following the completion of the transaction, the chief executive officer now owns 93,793 shares of the company’s stock, valued at approximately $3,630,727.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael R. Dury bought 6,000 shares of Merchants Bancorp stock in a transaction on Wednesday, July 31st. The shares were acquired at an average cost of $44.82 per share, with a total value of $268,920.00. Following the completion of the acquisition, the chief executive officer now 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 corporate insiders.

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.