BNP Paribas Financial Markets Purchases 10,508 Shares of Merchants Bancorp (NASDAQ:MBIN)

BNP Paribas Financial Markets boosted its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 48.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,156 shares of the company’s stock after acquiring an additional 10,508 shares during the period. BNP Paribas Financial Markets owned 0.07% of Merchants Bancorp worth $1,446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of Merchants Bancorp by 209.4% during the third quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after buying an additional 869 shares during the last quarter. nVerses Capital LLC raised its position in shares of Merchants Bancorp by 650.0% during 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 last quarter. Catalyst Capital Advisors LLC bought a new stake in Merchants Bancorp in the third quarter worth $162,000. FMR LLC increased its position in Merchants Bancorp by 214.5% in the third quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after purchasing an additional 2,699 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in Merchants Bancorp by 54.3% in 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 last quarter. Institutional investors own 24.57% of the company’s stock.

Insider Activity

In related news, Director Patrick D. O’brien acquired 40,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the acquisition, the director now directly owns 40,000 shares in the company, valued at $1,000,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 39.70% of the company’s stock.

Merchants Bancorp Stock Down 1.7 %

Shares of MBIN opened at $39.00 on Monday. The firm has a market capitalization of $1.78 billion, a P/E ratio of 6.46 and a beta of 1.13. Merchants Bancorp has a 12-month low of $34.82 and a 12-month high of $53.27. 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 firm has a fifty day moving average price of $41.57 and a 200-day moving average price of $42.52.

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

Merchants Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. Merchants Bancorp’s dividend payout ratio (DPR) is currently 5.96%.

Analyst Ratings Changes

MBIN has been the topic of several research reports. Raymond James reduced their price target on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Morgan Stanley started 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 lifted their price objective on shares of Merchants Bancorp from $48.00 to $52.50 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th.

Merchants Bancorp Company 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.