Harbor Capital Advisors Inc. Has $240,000 Stock Position in Merchants Bancorp (NASDAQ:MBIN)

Harbor Capital Advisors Inc. boosted its position in Merchants Bancorp (NASDAQ:MBIN) by 9.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,340 shares of the company’s stock after buying an additional 460 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Merchants Bancorp were worth $240,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Merchants Bancorp by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company’s stock valued at $41,465,000 after purchasing an additional 94,781 shares during the last quarter. Vanguard Group Inc. grew its holdings in Merchants Bancorp by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 994,962 shares of the company’s stock valued at $42,962,000 after buying an additional 24,122 shares during the last quarter. American Century Companies Inc. increased its position in Merchants Bancorp by 23.0% in the 2nd quarter. American Century Companies Inc. now owns 370,257 shares of the company’s stock worth $15,010,000 after buying an additional 69,133 shares during the period. Marshall Wace LLP lifted its holdings in shares of Merchants Bancorp by 6,793.6% during the second quarter. Marshall Wace LLP now owns 365,290 shares of the company’s stock worth $14,809,000 after buying an additional 359,991 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Merchants Bancorp by 91.5% in the second quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock valued at $10,721,000 after acquiring an additional 126,375 shares during the period. Institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Stock Down 3.5 %

MBIN opened at $40.69 on Friday. The company has a market capitalization of $1.86 billion, a P/E ratio of 6.74 and a beta of 1.12. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 0.78. The firm’s fifty day moving average price is $43.34 and its two-hundred day moving average price is $42.92. Merchants Bancorp has a fifty-two week low of $31.24 and a fifty-two week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). The business had revenue of $355.67 million during the quarter, compared to the consensus estimate of $156.13 million. Merchants Bancorp had a net margin of 21.33% and a return on equity of 23.14%. During the same period in the previous year, the firm earned $1.68 EPS. On average, analysts anticipate that Merchants Bancorp will post 5.77 EPS for the current year.

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.09 per share. The ex-dividend date was Friday, September 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.88%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.96%.

Wall Street Analysts Forecast Growth

MBIN has been the subject of several research analyst reports. Morgan Stanley initiated coverage on shares of Merchants Bancorp in a research note on Monday, September 9th. They set an “equal weight” rating and a $54.00 target price for the company. Raymond James reduced their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Finally, Piper Sandler restated an “overweight” rating and set a $48.00 price target (down from $56.00) on shares of Merchants Bancorp in a research note on Wednesday, October 30th.

Insider Activity at Merchants Bancorp

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

About Merchants Bancorp

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.