Jane Street Group LLC Cuts Stock Position in Merchants Bancorp (NASDAQ:MBIN)

Jane Street Group LLC cut its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 42.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,561 shares of the company’s stock after selling 7,747 shares during the quarter. Jane Street Group LLC’s holdings in Merchants Bancorp were worth $475,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MBIN. Royce & Associates LP raised its stake in Merchants Bancorp by 143.1% during 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 during the period. State Street Corp grew its holdings in Merchants Bancorp by 4.7% during the 3rd quarter. State Street Corp now owns 448,525 shares of the company’s stock valued at $20,205,000 after buying an additional 20,214 shares in the last quarter. Millennium Management LLC raised its position in shares of Merchants Bancorp by 139.9% during the second quarter. Millennium Management LLC now owns 91,579 shares of the company’s stock valued at $3,713,000 after buying an additional 53,401 shares during the last quarter. FMR LLC raised its position in shares of Merchants Bancorp by 214.5% during the third quarter. FMR LLC now owns 3,957 shares of the company’s stock valued at $178,000 after buying an additional 2,699 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Merchants Bancorp by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,319 shares of the company’s stock worth $914,000 after buying an additional 1,099 shares in the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Merchants Bancorp

In other news, Director Patrick D. O’brien bought 40,000 shares of the stock in a transaction dated Monday, November 18th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the acquisition, the director now owns 40,000 shares of the company’s stock, valued at $1,000,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 39.70% of the company’s stock.

Merchants Bancorp Price Performance

Merchants Bancorp stock opened at $36.28 on Tuesday. Merchants Bancorp has a 52-week low of $35.50 and a 52-week high of $53.27. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. The firm’s fifty day moving average is $38.51 and its 200 day moving average is $42.07. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 6.01 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results 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 net margin of 21.33% and a return on equity of 22.36%. The business had revenue of $355.67 million for the quarter, compared to analysts’ expectations of $156.13 million. During the same quarter in the prior year, the company posted $1.68 earnings per share. Sell-side analysts forecast that Merchants Bancorp will post 5.74 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, December 13th. Merchants Bancorp’s payout ratio is 5.96%.

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.