Dimensional Fund Advisors LP Raises Holdings in Merchants Bancorp $MBIN

Key Points

• Dimensional Fund Advisors increased its Merchants Bancorp stake by 6.2% in the first quarter, purchasing 102,087 additional shares. It now owns 1.76 million shares, worth approximately $75.5 million, or 3.83% of the company.
• Merchants Bancorp reported quarterly EPS of $1.48, exceeding analyst expectations of $1.22, while revenue of $182.2 million also surpassed estimates. The company declared a $0.11 quarterly dividend, equivalent to a 0.8% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $51.50, though ratings are mixed. The stock recently traded at $55.18, near its 52-week high, while a company director sold 9,000 shares for about $496,800.

Dimensional Fund Advisors LP boosted its position in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,758,985 shares of the company's stock after purchasing an additional 102,087 shares during the quarter. Dimensional Fund Advisors LP owned about 3.83% of Merchants Bancorp worth $75,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Merchants Bancorp in the fourth quarter valued at about $34,000. Tower Research Capital LLC TRC lifted its stake in shares of Merchants Bancorp by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company's stock worth $73,000 after buying an additional 1,153 shares in the last quarter. Fifth Third Bancorp acquired a new position in Merchants Bancorp during the first quarter worth about $270,000. Oregon Public Employees Retirement Fund purchased a new stake in Merchants Bancorp during the 1st quarter valued at about $287,000. Finally, Brevan Howard Capital Management LP raised its holdings in Merchants Bancorp by 16.7% in the 2nd quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company's stock valued at $228,000 after acquiring an additional 984 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.

Merchants Bancorp Stock Performance

Merchants Bancorp stock opened at $55.18 on Friday. The firm has a 50 day simple moving average of $48.87 and a 200-day simple moving average of $45.35. Merchants Bancorp has a 1-year low of $28.75 and a 1-year high of $56.87. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.21 and a quick ratio of 0.89. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 11.08 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.26. The business had revenue of $182.22 million during the quarter, compared to the consensus estimate of $179.00 million. Merchants Bancorp had a net margin of 19.80% and a return on equity of 15.29%. On average, analysts expect that Merchants Bancorp will post 5.43 EPS for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 15th. Merchants Bancorp's dividend payout ratio is 8.84%.

Analyst Upgrades and Downgrades

MBIN has been the topic of several recent research reports. Morgan Stanley restated a "positive" rating and set a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a report on Monday, June 29th. Raymond James Financial cut Merchants Bancorp from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 1st. Piper Sandler reiterated an "overweight" rating and set a $64.00 price objective on shares of Merchants Bancorp in a research report on Wednesday. Zacks Research lowered Merchants Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded Merchants Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.50.

Insider Activity at Merchants Bancorp

In other news, Director Julia L. Kaercher sold 9,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $55.20, for a total transaction of $496,800.00. Following the completion of the transaction, the director directly owned 727,103 shares in the company, valued at approximately $40,136,085.60. This represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 44.90% of the stock is currently owned by company insiders.

Merchants Bancorp Profile

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.

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