Dimensional Fund Advisors LP Raises Stock Holdings in Merchants Bancorp (NASDAQ:MBIN)

Dimensional Fund Advisors LP increased its position in Merchants Bancorp (NASDAQ:MBIN) by 10.2% in the second quarter, HoldingsChannel.com reports. The fund owned 1,022,893 shares of the company’s stock after buying an additional 94,781 shares during the period. Dimensional Fund Advisors LP’s holdings in Merchants Bancorp were worth $41,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banc Funds Co. LLC raised its stake in shares of Merchants Bancorp by 3.5% during the 4th quarter. Banc Funds Co. LLC now owns 527,700 shares of the company’s stock valued at $22,469,000 after buying an additional 18,000 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Merchants Bancorp during the 4th quarter valued at about $2,658,000. Allspring Global Investments Holdings LLC raised its stake in shares of Merchants Bancorp by 27.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 81,261 shares of the company’s stock valued at $3,509,000 after buying an additional 17,685 shares during the last quarter. Denali Advisors LLC raised its stake in shares of Merchants Bancorp by 0.8% during the 1st quarter. Denali Advisors LLC now owns 81,313 shares of the company’s stock valued at $3,511,000 after buying an additional 680 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Merchants Bancorp during the 1st quarter valued at about $584,000. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Wall Street Analysts Forecast Growth

MBIN has been the subject of a number of recent research reports. 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 for the company. Raymond James lowered Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $58.00 in a research note on Tuesday, July 30th.

Insider Activity

In other news, CEO Michael F. Petrie sold 22,050 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $999,747.00. Following the sale, the chief executive officer now directly owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Vice Chairman Randall D. Rogers sold 75,000 shares of Merchants Bancorp stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $44.00, for a total value of $3,300,000.00. Following the sale, the insider now directly owns 748,000 shares in the company, valued at approximately $32,912,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael F. Petrie sold 22,050 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $90,251,310.30. The disclosure for this sale can be found here. Insiders own 39.70% of the company’s stock.

Merchants Bancorp Price Performance

NASDAQ:MBIN opened at $44.96 on Tuesday. Merchants Bancorp has a 52 week low of $25.78 and a 52 week high of $53.27. 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 market capitalization of $1.95 billion, a PE ratio of 7.06 and a beta of 1.10. The stock’s 50-day moving average price is $44.52 and its 200-day moving average price is $42.57.

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

Merchants Bancorp Announces Dividend

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 given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, September 13th. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.65%.

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.