Merchants Bancorp (NASDAQ:MBIN) Shares Sold by Peloton Wealth Strategists

Peloton Wealth Strategists cut its stake in Merchants Bancorp (NASDAQ:MBIN) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,735 shares of the company’s stock after selling 390 shares during the period. Peloton Wealth Strategists’ holdings in Merchants Bancorp were worth $273,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. nVerses Capital LLC raised its holdings in Merchants Bancorp by 650.0% in the second quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock valued at $61,000 after buying an additional 1,300 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Merchants Bancorp in the first quarter valued at approximately $202,000. Wellington Wealth Strategies LLC. purchased a new position in Merchants Bancorp in the first quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank raised 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 buying an additional 2,101 shares during the period. Finally, Comerica Bank raised its holdings in Merchants Bancorp by 14,856.3% in the first quarter. Comerica Bank now owns 4,786 shares of the company’s stock valued at $207,000 after buying an additional 4,754 shares during the period. 24.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Merchants Bancorp Trading Up 0.3 %

MBIN opened at $44.52 on Friday. The firm has a market capitalization of $1.93 billion, a P/E ratio of 6.99 and a beta of 1.10. The firm’s 50 day moving average is $44.61 and its 200-day moving average is $42.57. 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.

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

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.81%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.65%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MBIN. Raymond James lowered shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and raised their price target for the company 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 note on Monday, September 9th. They set an “equal weight” rating and a $54.00 price objective on the stock.

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.