Victory Capital Management Inc. Increases Stock Position in Merchants Bancorp (NASDAQ:MBIN)

Victory Capital Management Inc. grew its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 119.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,278 shares of the company’s stock after buying an additional 6,671 shares during the period. Victory Capital Management Inc.’s holdings in Merchants Bancorp were worth $498,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in shares of Merchants Bancorp by 91.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock valued at $10,721,000 after buying an additional 126,375 shares during the period. Elizabeth Park Capital Advisors Ltd. purchased a new stake in shares of Merchants Bancorp during the 4th quarter valued at $2,289,000. Quadrature Capital Ltd purchased a new stake in shares of Merchants Bancorp during the 4th quarter valued at $2,658,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Merchants Bancorp by 441.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company’s stock valued at $4,608,000 after buying an additional 87,012 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Merchants Bancorp during the 1st quarter valued at $587,000. 24.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MBIN has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They set an “equal weight” rating and a $54.00 target price 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.

Merchants Bancorp Stock Performance

NASDAQ:MBIN opened at $45.57 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 7.15 and a beta of 1.10. The firm’s fifty day simple moving average is $44.84 and its 200 day simple moving average is $42.55. Merchants Bancorp has a twelve month low of $25.78 and a twelve month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data on Monday, July 29th. The company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.08). Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. The firm had revenue of $359.62 million during the quarter, compared to analyst estimates of $160.70 million. During the same quarter in the prior year, the firm earned $1.31 EPS. As a group, equities research analysts expect that Merchants Bancorp will post 6.09 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.09 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.79%. Merchants Bancorp’s dividend payout ratio is currently 5.65%.

Insiders Place Their Bets

In other news, CEO Michael R. Dury acquired 5,200 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $38.71 per share, for a total transaction of $201,292.00. Following the acquisition, the chief executive officer now directly owns 93,793 shares of the company’s stock, valued at approximately $3,630,727.03. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael R. Dury bought 5,200 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $38.71 per share, for a total transaction of $201,292.00. Following the purchase, the chief executive officer now owns 93,793 shares in the company, valued at approximately $3,630,727.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael F. Petrie sold 22,050 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the completion of the sale, the chief executive officer now owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. The disclosure for this sale can be found here. 39.70% of the stock is currently owned by company 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.