Millennium Management LLC Boosts Holdings in Merchants Bancorp (NASDAQ:MBIN)

Millennium Management LLC boosted its stake in Merchants Bancorp (NASDAQ:MBIN) by 139.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,579 shares of the company’s stock after acquiring an additional 53,401 shares during the period. Millennium Management LLC owned about 0.21% of Merchants Bancorp worth $3,713,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MBIN. AQR Capital Management LLC increased its position in Merchants Bancorp by 66.1% during the second quarter. AQR Capital Management LLC now owns 59,465 shares of the company’s stock worth $2,411,000 after buying an additional 23,661 shares during the period. Caxton Associates LP lifted its holdings in shares of Merchants Bancorp by 65.7% in the 2nd quarter. Caxton Associates LP now owns 9,159 shares of the company’s stock valued at $371,000 after buying an additional 3,632 shares during the period. Sandia Investment Management LP acquired a new stake in shares of Merchants Bancorp in the 2nd quarter valued at approximately $203,000. Marshall Wace LLP boosted its position in shares of Merchants Bancorp by 6,793.6% during the 2nd quarter. Marshall Wace LLP now owns 365,290 shares of the company’s stock worth $14,809,000 after purchasing an additional 359,991 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Merchants Bancorp by 10.3% during the 2nd quarter. Sei Investments Co. now owns 8,571 shares of the company’s stock worth $347,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Buying and Selling at Merchants Bancorp

In other news, CEO Michael F. Petrie sold 22,050 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the completion of the transaction, the chief executive officer now owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Merchants Bancorp news, Vice Chairman Randall D. Rogers sold 75,000 shares of Merchants Bancorp stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the sale, the insider now owns 748,000 shares of the company’s stock, valued at $32,912,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael F. Petrie sold 22,050 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $90,251,310.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 39.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Merchants Bancorp Trading Up 0.3 %

NASDAQ MBIN opened at $44.87 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.01. Merchants Bancorp has a one year low of $25.78 and a one year high of $53.27. The company has a 50-day simple moving average of $43.76 and a 200-day simple moving average of $42.77. The firm has a market capitalization of $1.95 billion, a PE ratio of 7.04 and a beta of 1.09.

Merchants Bancorp (NASDAQ:MBIN) last posted 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 company had revenue of $359.62 million for the quarter, compared to the consensus estimate of $160.70 million. Merchants Bancorp had a net margin of 23.14% and a return on equity of 25.54%. During the same period last year, the company posted $1.31 earnings per share. On average, equities analysts forecast that Merchants Bancorp will post 6.08 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.80%. The ex-dividend date was Friday, September 13th. Merchants Bancorp’s dividend payout ratio 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.