American Century Companies Inc. Purchases 69,133 Shares of Merchants Bancorp (NASDAQ:MBIN)

American Century Companies Inc. lifted its position in Merchants Bancorp (NASDAQ:MBIN) by 23.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 370,257 shares of the company’s stock after acquiring an additional 69,133 shares during the period. American Century Companies Inc. owned 0.85% of Merchants Bancorp worth $15,010,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MBIN. Quest Partners LLC grew its stake in Merchants Bancorp by 11.7% in the second quarter. Quest Partners LLC now owns 9,913 shares of the company’s stock worth $402,000 after purchasing an additional 1,039 shares during the period. Victory Capital Management Inc. grew its position in shares of Merchants Bancorp by 119.0% in the 2nd quarter. Victory Capital Management Inc. now owns 12,278 shares of the company’s stock worth $498,000 after buying an additional 6,671 shares during the period. Ovata Capital Management Ltd bought a new position in shares of Merchants Bancorp in the 2nd quarter worth about $4,054,000. Jackson Creek Investment Advisors LLC purchased a new position in Merchants Bancorp during the 2nd quarter valued at about $1,060,000. Finally, Rhumbline Advisers boosted its stake in Merchants Bancorp by 11.8% during the second quarter. Rhumbline Advisers now owns 28,124 shares of the company’s stock worth $1,140,000 after acquiring an additional 2,971 shares in the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Raymond James lowered shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $58.00 in a report on Tuesday, July 30th. Morgan Stanley started coverage on Merchants Bancorp in a report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 target price on the stock.

Merchants Bancorp Stock Down 3.4 %

Shares of Merchants Bancorp stock opened at $45.57 on Friday. The company has a 50-day simple moving average of $44.84 and a two-hundred day simple moving average of $42.56. The stock has a market capitalization of $1.98 billion, a PE ratio of 7.15 and a beta of 1.10. Merchants Bancorp has a 52-week low of $25.78 and a 52-week high of $53.27. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.08). The business had revenue of $359.62 million during the quarter, compared to the consensus estimate 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 posted $1.31 earnings per share. On average, analysts anticipate that Merchants Bancorp will post 6.09 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, September 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.79%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.65%.

Insider Buying and Selling

In other Merchants Bancorp news, Vice Chairman Randall D. Rogers sold 75,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 748,000 shares in the company, valued at approximately $32,912,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Merchants Bancorp news, Vice Chairman Randall D. Rogers sold 75,000 shares of Merchants Bancorp stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total value of $3,300,000.00. Following the completion of the sale, the insider now owns 748,000 shares of the company’s stock, valued at approximately $32,912,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael R. Dury bought 5,200 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $38.71 per share, with a total value of $201,292.00. Following the completion of the purchase, the chief executive officer now owns 93,793 shares in the company, valued at approximately $3,630,727.03. The disclosure for this purchase can be found here. 39.70% of the stock is owned by corporate insiders.

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.