Hotchkis & Wiley Capital Management LLC Has $11.12 Million Stake in Merchants Bancorp $MBIN

Key Points

• Hotchkis & Wiley Capital Management LLC has increased its stake in Merchants Bancorp by 24.5%, now owning 300,550 shares worth approximately $11.12 million.
• Merchants Bancorp experienced a miss in EPS for the last quarter, reporting $0.60 against an estimate of $1.12, but had higher revenue of $179.20 million.
• The company recently announced a $0.10 quarterly dividend, with an annualized yield of 1.2%, to be paid on October 1st.

Hotchkis & Wiley Capital Management LLC increased its stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 24.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,550 shares of the company's stock after acquiring an additional 59,170 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.66% of Merchants Bancorp worth $11,120,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MBIN. Signaturefd LLC grew its holdings in Merchants Bancorp by 182.2% in the first quarter. Signaturefd LLC now owns 731 shares of the company's stock worth $27,000 after purchasing an additional 472 shares during the period. CWM LLC grew its stake in shares of Merchants Bancorp by 168.9% in the 1st quarter. CWM LLC now owns 1,358 shares of the company's stock valued at $50,000 after buying an additional 853 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Merchants Bancorp in the 4th quarter valued at about $79,000. Tower Research Capital LLC TRC raised its stake in Merchants Bancorp by 118.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock worth $130,000 after buying an additional 1,933 shares during the period. Finally, Matrix Trust Co boosted its holdings in Merchants Bancorp by 45.0% in the first quarter. Matrix Trust Co now owns 3,830 shares of the company's stock worth $142,000 after acquiring an additional 1,188 shares in the last quarter. 24.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Merchants Bancorp Price Performance

Shares of NASDAQ:MBIN opened at $33.29 on Friday. 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 stock has a market cap of $1.53 billion, a PE ratio of 7.32 and a beta of 1.30. The stock's fifty day simple moving average is $33.02 and its two-hundred day simple moving average is $34.63. Merchants Bancorp has a 1-year low of $27.25 and a 1-year high of $47.94.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last posted its 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 return on equity of 16.06% and a net margin of 18.06%.The firm had revenue of $179.20 million during the quarter, compared to the consensus estimate of $161.10 million. As a group, analysts forecast that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.10 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.40 annualized dividend and a yield of 1.2%. Merchants Bancorp's dividend payout ratio (DPR) 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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