American Century Companies Inc. Grows Position in Merchants Bancorp $MBIN

Key Points

• American Century Companies Inc. increased its stake in Merchants Bancorp by 8.0%, owning 1.12% equivalent to $18,979,000 worth of shares after acquiring an additional 38,038 shares in the first quarter.
• The company's earnings results revealed an earnings per share (EPS) of $0.60, which fell short of the analysts' consensus estimate of $1.12, despite revenue exceeding expectations at $179.20 million.
• Merchants Bancorp announced a quarterly dividend of $0.10 per share, translating to an annualized yield of 1.2%, with a payout ratio of 8.79%.

American Century Companies Inc. boosted its holdings in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 8.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 512,942 shares of the company's stock after purchasing an additional 38,038 shares during the quarter. American Century Companies Inc. owned about 1.12% of Merchants Bancorp worth $18,979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC acquired a new position in Merchants Bancorp in the first quarter valued at approximately $318,000. Ameriprise Financial Inc. boosted its holdings in shares of Merchants Bancorp by 76.0% in the fourth quarter. Ameriprise Financial Inc. now owns 82,200 shares of the company's stock valued at $2,998,000 after acquiring an additional 35,492 shares during the period. Millennium Management LLC boosted its holdings in shares of Merchants Bancorp by 214.1% in the fourth quarter. Millennium Management LLC now owns 126,087 shares of the company's stock valued at $4,598,000 after acquiring an additional 85,948 shares during the period. Jane Street Group LLC boosted its holdings in shares of Merchants Bancorp by 94.2% in the fourth quarter. Jane Street Group LLC now owns 20,513 shares of the company's stock valued at $748,000 after acquiring an additional 9,952 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Merchants Bancorp in the fourth quarter valued at approximately $878,000. 24.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Merchants Bancorp

In related news, CAO Darin L. Thomas purchased 3,353 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was acquired at an average price of $29.71 per share, for a total transaction of $99,617.63. Following the completion of the purchase, the chief accounting officer directly owned 2,250 shares of the company's stock, valued at $66,847.50. This trade represents a -303.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 34.80% of the stock is owned by company insiders.

Merchants Bancorp Stock Performance

Shares of Merchants Bancorp stock traded up $0.18 during trading hours on Wednesday, hitting $32.97. 279,674 shares of the company were exchanged, compared to its average volume of 180,108. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $47.42. The company has a current ratio of 1.20, a quick ratio of 0.88 and a debt-to-equity ratio of 2.45. The business has a 50-day moving average of $33.09 and a 200-day moving average of $34.49. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 7.25 and a beta of 1.30.

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

Merchants Bancorp Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on MBIN. Piper Sandler reissued an "overweight" rating and issued a $41.00 price objective (down from $42.00) on shares of Merchants Bancorp in a report on Wednesday, July 30th. Wall Street Zen downgraded Merchants Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Raymond James Financial reissued an "outperform" rating and issued a $40.00 price objective (down from $41.00) on shares of Merchants Bancorp in a report on Tuesday, July 29th. Finally, Morgan Stanley decreased their price objective on Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating for the company in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Merchants Bancorp currently has an average rating of "Moderate Buy" and an average target price of $38.33.

About Merchants Bancorp

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.