Denali Advisors LLC cut its position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 10.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,576 shares of the company's stock after selling 20,134 shares during the quarter. Merchants Bancorp comprises about 0.9% of Denali Advisors LLC's holdings, making the stock its 21st largest position. Denali Advisors LLC owned 0.38% of Merchants Bancorp worth $8,729,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in Merchants Bancorp by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company's stock valued at $73,000 after acquiring an additional 1,153 shares during the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Merchants Bancorp in the 1st quarter worth about $215,000. Brevan Howard Capital Management LP raised its position 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 acquiring an additional 984 shares in the last quarter. Numerai GP LLC acquired a new position in shares of Merchants Bancorp in the 4th quarter valued at about $254,000. Finally, Caxton Associates LLP acquired a new position in shares of Merchants Bancorp in the 3rd quarter valued at about $256,000. Institutional investors own 24.57% of the company's stock.
Wall Street Analyst Weigh In
MBIN has been the subject of several recent analyst reports. Morgan Stanley reaffirmed a "positive" rating and set a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a research note on Monday, June 29th. Zacks Research raised Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. Weiss Ratings restated a "buy (b-)" rating on shares of Merchants Bancorp in a report on Friday, July 31st. Raymond James Financial downgraded shares of Merchants Bancorp from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 1st. Finally, Piper Sandler reiterated an "overweight" rating and issued a $64.00 price objective on shares of Merchants Bancorp in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $51.50.
Get Our Latest Stock Report on Merchants Bancorp
Insider Transactions at Merchants Bancorp
In related news, Director Julia L. Kaercher sold 9,000 shares of Merchants Bancorp stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $55.20, for a total value of $496,800.00. Following the completion of the sale, the director owned 727,103 shares of the company's stock, valued at approximately $40,136,085.60. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 44.90% of the company's stock.
Merchants Bancorp Stock Down 1.7%
MBIN stock opened at $53.50 on Thursday. The stock's 50 day simple moving average is $50.80 and its 200 day simple moving average is $47.17. The company has a market cap of $2.46 billion, a P/E ratio of 10.74 and a beta of 1.14. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.89 and a current ratio of 1.21. Merchants Bancorp has a fifty-two week low of $30.37 and a fifty-two week high of $56.87.
Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $179.00 million. On average, research analysts expect that Merchants Bancorp will post 5.58 earnings per share for the current fiscal year.
About Merchants Bancorp
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding MBIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merchants Bancorp (NASDAQ:MBIN - Free Report).
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