Boston Partners Sells 294,314 Shares of Merchants Bancorp $MBIN

Boston Partners reduced its holdings in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 87.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,921 shares of the company's stock after selling 294,314 shares during the quarter. Boston Partners owned approximately 0.09% of Merchants Bancorp worth $1,450,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of Merchants Bancorp by 56.9% in the first quarter. Russell Investments Group Ltd. now owns 86,629 shares of the company's stock valued at $3,205,000 after buying an additional 31,433 shares in the last quarter. Nuveen LLC bought a new position in shares of Merchants Bancorp in the first quarter valued at $5,275,000. Invesco Ltd. grew its stake in shares of Merchants Bancorp by 1.9% in the first quarter. Invesco Ltd. now owns 480,622 shares of the company's stock valued at $17,783,000 after buying an additional 9,192 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Merchants Bancorp by 167.1% in the first quarter. Deutsche Bank AG now owns 41,595 shares of the company's stock valued at $1,539,000 after buying an additional 26,022 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Merchants Bancorp by 2.2% in the first quarter. Vanguard Group Inc. now owns 1,233,965 shares of the company's stock valued at $45,657,000 after buying an additional 26,111 shares in the last quarter. 24.57% of the stock is owned by institutional investors.

Merchants Bancorp Stock Performance

Merchants Bancorp stock traded up $1.6060 during mid-day trading on Friday, hitting $33.2960. 303,029 shares of the company's stock traded hands, compared to its average volume of 176,634. The firm has a 50 day simple moving average of $32.98 and a two-hundred day simple moving average of $34.75. Merchants Bancorp has a fifty-two week low of $27.25 and a fifty-two week high of $47.94. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 7.34 and a beta of 1.30. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.20 and a quick ratio of 0.88.

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

Merchants Bancorp Announces Dividend

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

Analysts Set New Price Targets

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

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.