Merchants Bancorp (NASDAQ:MBIN) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC trimmed its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 45.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,342 shares of the company’s stock after selling 4,467 shares during the period. Verition Fund Management LLC’s holdings in Merchants Bancorp were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Marshall Wace LLP raised its position in shares of Merchants Bancorp by 6,793.6% during the 2nd quarter. Marshall Wace LLP now owns 365,290 shares of the company’s stock worth $14,809,000 after buying an additional 359,991 shares in the last quarter. Royce & Associates LP increased its stake in shares of Merchants Bancorp by 143.1% during the third quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock valued at $22,039,000 after acquiring an additional 288,553 shares during the period. Ovata Capital Management Ltd bought a new stake in Merchants Bancorp during the second quarter worth approximately $4,054,000. Dimensional Fund Advisors LP lifted its position in Merchants Bancorp by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company’s stock worth $41,465,000 after purchasing an additional 94,781 shares during the period. Finally, Foundry Partners LLC bought a new position in Merchants Bancorp during the 3rd quarter valued at $3,477,000. 24.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MBIN has been the subject of several research analyst reports. Morgan Stanley assumed coverage on Merchants Bancorp in a report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price objective for the company. Piper Sandler raised their price objective on shares of Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Raymond James dropped their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th.

Merchants Bancorp Stock Up 0.3 %

Shares of Merchants Bancorp stock opened at $38.48 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. 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. The stock’s fifty day moving average is $41.04 and its 200-day moving average is $42.45.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share (EPS) 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 analyst estimates of $156.13 million. During the same quarter in the previous year, the firm posted $1.68 EPS. Equities analysts anticipate that Merchants Bancorp will post 5.74 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, December 13th. Merchants Bancorp’s dividend payout ratio is 5.96%.

Insiders Place Their Bets

In other Merchants Bancorp news, Director Patrick D. O’brien bought 40,000 shares of the firm’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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 39.70% of the company’s stock.

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.