AQR Capital Management LLC Has $2.41 Million Position in Merchants Bancorp (NASDAQ:MBIN)

AQR Capital Management LLC boosted its stake in Merchants Bancorp (NASDAQ:MBIN) by 66.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,465 shares of the company’s stock after purchasing an additional 23,661 shares during the quarter. AQR Capital Management LLC owned about 0.14% of Merchants Bancorp worth $2,411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MBIN. Marshall Wace LLP lifted its holdings 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 acquiring an additional 359,991 shares during the period. Assenagon Asset Management S.A. lifted its stake in Merchants Bancorp by 91.5% during the second quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock worth $10,721,000 after purchasing an additional 126,375 shares during the last quarter. Ovata Capital Management Ltd acquired a new stake in shares of Merchants Bancorp in the 2nd quarter valued at $4,054,000. Dimensional Fund Advisors LP increased its stake in shares of Merchants Bancorp by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company’s stock valued at $41,465,000 after purchasing an additional 94,781 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings 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 worth $4,608,000 after buying an additional 87,012 shares in the last quarter. Institutional investors own 24.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MBIN. Raymond James cut 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 research report on Tuesday, July 30th. Morgan Stanley started coverage on shares of Merchants Bancorp in a research note on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price objective for the company.

Insider Activity at Merchants Bancorp

In other news, CEO Michael F. Petrie sold 22,050 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the transaction, the chief executive officer now owns 1,990,545 shares in the company, valued at $90,251,310.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael F. Petrie sold 22,050 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,990,545 shares of the company’s stock, valued at $90,251,310.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was 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 directly owns 748,000 shares of the company’s stock, valued at $32,912,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.70% of the stock is owned by insiders.

Merchants Bancorp Trading Down 0.2 %

Shares of MBIN stock opened at $43.92 on Wednesday. Merchants Bancorp has a fifty-two week low of $25.78 and a fifty-two 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. The stock has a 50 day simple moving average of $43.65 and a two-hundred day simple moving average of $42.71. The company has a market cap of $1.90 billion, a P/E ratio of 6.89 and a beta of 1.09.

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 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 company had revenue of $359.62 million for the quarter, compared to the consensus estimate of $160.70 million. During the same period last year, the company earned $1.31 EPS. Research analysts forecast that Merchants Bancorp will post 6.09 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.82%. Merchants Bancorp’s payout ratio is 5.65%.

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.