Algert Global LLC Takes $363,000 Position in Merchants Bancorp $MBIN

Key Points

• Algert Global LLC has acquired a new position in Merchants Bancorp, purchasing 9,803 shares valued at approximately $363,000 during the first quarter.
• Analysts have recently adjusted their price targets for Merchants Bancorp, with Morgan Stanley lowering their target from $40.00 to $34.00 and several others giving a mix of ratings including a consensus of "Moderate Buy."
• Merchants Bancorp has announced a quarterly dividend of $0.10 per share, payable on October 1st, representing a 1.2% yield with a low payout ratio of 8.79%.

Algert Global LLC purchased a new stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,803 shares of the company's stock, valued at approximately $363,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC increased its stake in shares of Merchants Bancorp by 182.2% in the 1st quarter. Signaturefd LLC now owns 731 shares of the company's stock valued at $27,000 after purchasing an additional 472 shares during the last quarter. CWM LLC increased its stake in shares of Merchants Bancorp by 168.9% in the 1st quarter. CWM LLC now owns 1,358 shares of the company's stock valued at $50,000 after purchasing an additional 853 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Merchants Bancorp in the 4th quarter valued at $79,000. Tower Research Capital LLC TRC increased its stake in shares of Merchants Bancorp by 118.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock valued at $130,000 after purchasing an additional 1,933 shares during the last quarter. Finally, Matrix Trust Co increased its stake in shares of Merchants Bancorp by 45.0% in the 1st quarter. Matrix Trust Co now owns 3,830 shares of the company's stock valued at $142,000 after purchasing an additional 1,188 shares during the last quarter. Institutional investors own 24.57% of the company's stock.

Analysts Set New Price Targets

MBIN has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Wall Street Zen lowered Merchants Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Piper Sandler reissued an "overweight" rating and set a $41.00 price objective (down previously from $42.00) on shares of Merchants Bancorp in a report on Wednesday, July 30th. Finally, Raymond James Financial restated an "outperform" rating and set a $40.00 price objective (down previously from $41.00) on shares of Merchants Bancorp in a research report on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Merchants Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $38.33.

Merchants Bancorp Trading Up 5.0%

Shares of MBIN stock opened at $33.29 on Monday. The firm has a market capitalization of $1.53 billion, a P/E ratio of 7.32 and a beta of 1.30. Merchants Bancorp has a twelve month low of $27.25 and a twelve month high of $47.94. The company has a quick ratio of 0.88, a current ratio of 1.20 and a debt-to-equity ratio of 2.45. The stock's fifty day simple moving average is $33.02 and its 200 day simple moving average is $34.57.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $1.12 by ($0.52). The firm had revenue of $179.20 million for the quarter, compared to the consensus estimate of $161.10 million. Merchants Bancorp had a return on equity of 16.06% and a net margin of 18.06%. As a group, sell-side analysts predict that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.40 annualized dividend and a yield of 1.2%. Merchants Bancorp's payout ratio is presently 8.79%.

Merchants Bancorp Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.