JPMorgan Chase & Co. Sells 276,696 Shares of Merchants Bancorp (NASDAQ:MBIN)

JPMorgan Chase & Co. lessened its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 55.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 224,428 shares of the company’s stock after selling 276,696 shares during the quarter. JPMorgan Chase & Co. owned about 0.49% of Merchants Bancorp worth $10,090,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. CWM LLC lifted its holdings in shares of Merchants Bancorp by 209.4% during the 3rd quarter. CWM LLC now owns 1,284 shares of the company’s stock worth $58,000 after acquiring an additional 869 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Merchants Bancorp during the third quarter valued at about $162,000. FMR LLC increased its holdings in shares of Merchants Bancorp by 214.5% in the third quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after buying an additional 2,699 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Merchants Bancorp by 54.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock valued at $163,000 after acquiring an additional 1,412 shares during the last quarter. Finally, Hohimer Wealth Management LLC purchased a new stake in shares of Merchants Bancorp during the third quarter valued at approximately $202,000. Institutional investors own 24.57% of the company’s stock.

Insiders Place Their Bets

In other news, Director Patrick D. O’brien purchased 40,000 shares of Merchants Bancorp stock in a transaction that occurred on Monday, November 18th. The stock was bought 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 of the company’s stock, valued at approximately $1,000,000. The trade was a ∞ increase in their ownership of the stock. The acquisition 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.

Wall Street Analysts Forecast Growth

MBIN has been the topic of several recent analyst reports. Piper Sandler raised their target price on Merchants Bancorp from $48.00 to $52.50 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Raymond James cut their price objective 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.

Merchants Bancorp Stock Down 2.1 %

MBIN stock opened at $34.75 on Monday. Merchants Bancorp has a fifty-two week low of $34.16 and a fifty-two week high of $53.27. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 5.75 and a beta of 1.14. The business’s 50 day moving average price is $38.44 and its two-hundred day moving average price is $41.96. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.25). The firm had revenue of $355.67 million during the quarter, compared to analysts’ expectations of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same period in the previous year, the company earned $1.68 earnings per share. As a group, analysts forecast that Merchants Bancorp will post 5.74 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.09 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.04%. Merchants Bancorp’s dividend payout ratio is currently 5.96%.

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.