4,105,193 Shares in Merchants Bancorp $MBIN Bought by BlackRock Inc.

Key Points

• BlackRock acquired 4.1 million shares of Merchants Bancorp in the second quarter, worth approximately $205.3 million and representing an 8.94% stake. Institutional investors and hedge funds collectively own 24.57% of the company.
• Merchants Bancorp reported quarterly EPS of $1.48, beating the $1.22 consensus estimate, while revenue of $182.2 million also exceeded expectations. The company announced a quarterly dividend of $0.11 per share, yielding about 0.8% annually.
• Analyst sentiment remains generally positive, with an average “Buy” rating and a $51.50 price target. Shares recently opened at $53.26, near the company’s 52-week high of $56.87.

BlackRock Inc. purchased a new stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 4,105,193 shares of the company's stock, valued at approximately $205,260,000. BlackRock Inc. owned about 8.94% of Merchants Bancorp as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in Merchants Bancorp by 110.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company's stock valued at $73,000 after purchasing an additional 1,153 shares during the period. Gamco Investors INC. ET AL acquired a new position in shares of Merchants Bancorp in the 1st quarter worth approximately $215,000. Brevan Howard Capital Management LP raised its holdings in shares of Merchants Bancorp by 16.7% in the 2nd quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company's stock worth $228,000 after purchasing an additional 984 shares in the last quarter. Numerai GP LLC bought a new stake in Merchants Bancorp during the fourth quarter worth approximately $254,000. Finally, Caxton Associates LLP bought a new position in shares of Merchants Bancorp in the third quarter valued at $256,000. Institutional investors and hedge funds own 24.57% of the company's stock.

Insider Activity

In related news, Director Julia L. Kaercher sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $55.20, for a total transaction of $496,800.00. Following the completion of the sale, the director directly owned 727,103 shares in the company, valued at approximately $40,136,085.60. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 44.90% of the stock is owned by company insiders.

Merchants Bancorp Stock Performance

Shares of MBIN stock opened at $53.26 on Friday. Merchants Bancorp has a 1-year low of $30.37 and a 1-year high of $56.87. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 10.69 and a beta of 1.14. The stock's fifty day simple moving average is $51.33 and its 200-day simple moving average is $47.66.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.26. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%.The firm had revenue of $182.22 million during the quarter, compared to the consensus estimate of $179.00 million. On average, sell-side analysts predict that Merchants Bancorp will post 5.58 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.11 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. Merchants Bancorp's dividend payout ratio is currently 8.84%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MBIN shares. Zacks Research upgraded Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, July 31st. Weiss Ratings reissued a "buy (b-)" rating on shares of Merchants Bancorp in a research note on Friday, July 31st. Morgan Stanley restated a "positive" rating and set a $49.00 price objective (up from $46.00) on shares of Merchants Bancorp in a report on Monday, June 29th. Piper Sandler reaffirmed an "overweight" rating and set a $64.00 price objective on shares of Merchants Bancorp in a research note on Wednesday, July 29th. Finally, Raymond James Financial cut shares of Merchants Bancorp from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Merchants Bancorp has an average rating of "Buy" and an average price target of $51.50.

About Merchants Bancorp

Merchants Bancorp NASDAQ: MBIN is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company's primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.

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