Quest Partners LLC Has $201,000 Holdings in Merchants Bancorp (NASDAQ:MBIN)

Quest Partners LLC decreased its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 54.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,476 shares of the company’s stock after selling 5,437 shares during the quarter. Quest Partners LLC’s holdings in Merchants Bancorp were worth $201,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. CWM LLC boosted its stake in Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after acquiring an additional 869 shares during the last quarter. nVerses Capital LLC lifted its stake in shares of Merchants Bancorp by 650.0% in the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock valued at $61,000 after purchasing an additional 1,300 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Merchants Bancorp in the 3rd quarter worth $162,000. Point72 Asset Management L.P. grew its stake in shares of Merchants Bancorp by 54.3% during the second quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock worth $163,000 after purchasing an additional 1,412 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Merchants Bancorp by 79.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock valued at $193,000 after purchasing an additional 2,101 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Activity

In other news, Director Patrick D. O’brien bought 40,000 shares of the stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the acquisition, the director now owns 40,000 shares in the company, valued at approximately $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 39.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MBIN shares. Raymond James reduced their target price on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Morgan Stanley initiated 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 target on the stock. Finally, Piper Sandler boosted their price objective on shares of Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday.

Merchants Bancorp Stock Performance

Shares of Merchants Bancorp stock opened at $41.33 on Thursday. The stock’s fifty day simple moving average is $42.23 and its 200 day simple moving average is $42.66. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $1.89 billion, a PE ratio of 6.84 and a beta of 1.12. Merchants Bancorp has a 12 month low of $32.52 and a 12 month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. The business had revenue of $355.67 million for the quarter, compared to analyst estimates of $156.13 million. During the same period in the prior year, the business earned $1.68 EPS. On average, research analysts predict that Merchants Bancorp will post 5.77 EPS for the current year.

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, December 13th. Merchants Bancorp’s payout ratio is currently 5.96%.

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.