Denali Advisors LLC Raises Position in Merchants Bancorp $MBIN

Key Points

• Denali Advisors LLC has increased its stake in Merchants Bancorp (NASDAQ:MBIN) by 17.8%, holding 200,510 shares valued at approximately $6.63 million.
• Analysts have varying outlooks on Merchants Bancorp, with target prices ranging from $39.00 to $41.00 and mixed ratings, including "outperform," "hold," and "sell."
• The company reported $0.60 EPS for the last quarter, falling short of the expected $1.12, and has declared a quarterly dividend of $0.10 per share, yielding about 1.2%.

Denali Advisors LLC raised its stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 200,510 shares of the company's stock after purchasing an additional 30,356 shares during the quarter. Denali Advisors LLC owned 0.44% of Merchants Bancorp worth $6,631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. CWM LLC lifted its position in shares of Merchants Bancorp by 121.6% during the 2nd quarter. CWM LLC now owns 3,010 shares of the company's stock worth $100,000 after buying an additional 1,652 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Merchants Bancorp during the 2nd quarter worth approximately $390,000. Valeo Financial Advisors LLC lifted its position in shares of Merchants Bancorp by 4.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 236,425 shares of the company's stock worth $7,819,000 after buying an additional 10,998 shares in the last quarter. Elser Financial Planning Inc bought a new position in shares of Merchants Bancorp during the 2nd quarter worth approximately $934,497,000. Finally, Twelve Points Wealth Management LLC lifted its position in shares of Merchants Bancorp by 3.6% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 39,126 shares of the company's stock worth $1,294,000 after buying an additional 1,343 shares in the last quarter. Institutional investors own 24.57% of the company's stock.

Insider Transactions at Merchants Bancorp

In related news, CAO Darin L. Thomas bought 3,353 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was bought at an average cost of $29.71 per share, for a total transaction of $99,617.63. Following the completion of the transaction, the chief accounting officer owned 2,250 shares of the company's stock, valued at approximately $66,847.50. The trade was a -303.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 34.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Raymond James Financial reissued an "outperform" rating and set a $40.00 target price (down previously from $41.00) on shares of Merchants Bancorp in a research report on Tuesday, July 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Merchants Bancorp in a research report on Wednesday, October 8th. Morgan Stanley reissued an "underperform" rating and set a $39.00 target price (up previously from $34.00) on shares of Merchants Bancorp in a research report on Monday, September 29th. Piper Sandler reaffirmed an "overweight" rating and issued a $41.00 price target (down previously from $42.00) on shares of Merchants Bancorp in a report on Wednesday, July 30th. Finally, Wall Street Zen cut shares of Merchants Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $40.00.

Merchants Bancorp Stock Up 2.1%

MBIN opened at $32.12 on Wednesday. The company has a fifty day moving average price of $32.18 and a 200-day moving average price of $32.47. The firm has a market capitalization of $1.47 billion, a P/E ratio of 7.06 and a beta of 1.29. 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 has a one year low of $27.25 and a one year high of $44.99.

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 analysts' consensus estimates of $1.12 by ($0.52). The firm had revenue of $179.20 million for the quarter, compared to analysts' expectations of $161.10 million. Merchants Bancorp had a net margin of 18.06% and a return on equity of 16.06%. Equities research analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

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

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.

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