Merchants Bancorp (NASDAQ:MBIN) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its holdings in Merchants Bancorp (NASDAQ:MBIN) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,482 shares of the company’s stock after selling 22,574 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Merchants Bancorp were worth $10,497,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Marshall Wace LLP raised its position in Merchants Bancorp by 6,793.6% in the second quarter. Marshall Wace LLP now owns 365,290 shares of the company’s stock worth $14,809,000 after acquiring an additional 359,991 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Merchants Bancorp by 143.1% in the 3rd quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock valued at $22,039,000 after purchasing an additional 288,553 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake 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 purchasing an additional 126,375 shares during the period. Ovata Capital Management Ltd purchased a new stake in Merchants Bancorp during the second quarter worth about $4,054,000. Finally, Dimensional Fund Advisors LP grew its position in Merchants Bancorp by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company’s stock worth $41,465,000 after buying an additional 94,781 shares during the period. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Merchants Bancorp Stock Down 1.4 %

MBIN stock opened at $38.45 on Tuesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The company’s 50 day simple moving average is $41.44 and its 200-day simple moving average is $42.50. Merchants Bancorp has a 12 month low of $35.56 and a 12 month high of $53.27. The firm has a market capitalization of $1.76 billion, a PE ratio of 6.37 and a beta of 1.13.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. The company had revenue of $355.67 million for the quarter, compared to analysts’ expectations of $156.13 million. During the same period in the previous year, the business posted $1.68 EPS. Equities analysts expect that Merchants Bancorp will post 5.74 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, December 13th. Merchants Bancorp’s payout ratio is 5.96%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MBIN shares. Morgan Stanley assumed coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price target for the company. Raymond James reduced their price objective on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Finally, Piper Sandler upped their target price on Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, November 26th.

Insider Buying and Selling at Merchants Bancorp

In other news, Director Patrick D. O’brien acquired 40,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was acquired at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $1,000,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.