Point72 Asset Management L.P. Boosts Stock Holdings in Merchants Bancorp (NASDAQ:MBIN)

Point72 Asset Management L.P. grew its position in Merchants Bancorp (NASDAQ:MBIN) by 54.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,012 shares of the company’s stock after purchasing an additional 1,412 shares during the period. Point72 Asset Management L.P.’s holdings in Merchants Bancorp were worth $163,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. nVerses Capital LLC boosted 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 worth $61,000 after buying an additional 1,300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Merchants Bancorp by 79.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock worth $193,000 after purchasing an additional 2,101 shares during the last quarter. Wellington Wealth Strategies LLC. bought a new position in Merchants Bancorp in the 1st quarter valued at $202,000. Price T Rowe Associates Inc. MD bought a new position in Merchants Bancorp in the 1st quarter valued at $202,000. Finally, Sandia Investment Management LP purchased a new stake in shares of Merchants Bancorp during the 2nd quarter valued at $203,000. 24.57% of the stock is owned by institutional investors.

Merchants Bancorp Stock Up 1.9 %

MBIN stock opened at $44.29 on Friday. The stock has a fifty day moving average of $43.82 and a 200-day moving average of $42.69. Merchants Bancorp has a fifty-two week low of $25.78 and a fifty-two week high of $53.27. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 6.95 and a beta of 1.09. 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 (NASDAQ:MBIN) last released its quarterly earnings data on Monday, July 29th. The company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.08). The business 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 period last year, the company earned $1.31 earnings per share. As a group, equities research analysts predict that Merchants Bancorp will post 6.09 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.81%. Merchants Bancorp’s dividend payout ratio is 5.65%.

Insider Buying and Selling at Merchants Bancorp

In related news, CEO Michael R. Dury purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was purchased at an average cost of $44.82 per share, with a total value of $268,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 88,593 shares of the company’s stock, valued at approximately $3,970,738.26. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Michael F. Petrie sold 22,050 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,990,545 shares of the company’s stock, valued at approximately $90,251,310.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael R. Dury bought 6,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was purchased at an average price of $44.82 per share, for a total transaction of $268,920.00. Following the completion of the purchase, the chief executive officer now directly owns 88,593 shares in the company, valued at approximately $3,970,738.26. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 39.70% of the company’s stock.

Analyst Upgrades and Downgrades

MBIN has been the subject of several research reports. Morgan Stanley began 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 downgraded shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and increased their target price for the company from $55.00 to $58.00 in a research report on Tuesday, July 30th.

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.