Hotchkis & Wiley Capital Management LLC Has $11.12 Million Stock Position 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 lifted its position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 24.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 300,550 shares of the company's stock after acquiring an additional 59,170 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 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 made changes to their positions in MBIN. Nuveen LLC acquired a new stake in shares of Merchants Bancorp during the 1st quarter valued at approximately $5,275,000. Dimensional Fund Advisors LP increased its position in Merchants Bancorp by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company's stock worth $46,211,000 after buying an additional 132,841 shares during the period. Royce & Associates LP increased its position in Merchants Bancorp by 21.2% in the first quarter. Royce & Associates LP now owns 686,507 shares of the company's stock worth $25,401,000 after buying an additional 120,262 shares during the period. Millennium Management LLC increased its position in Merchants Bancorp by 214.1% in the fourth quarter. Millennium Management LLC now owns 126,087 shares of the company's stock worth $4,598,000 after buying an additional 85,948 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Merchants Bancorp in the fourth quarter worth $2,095,000. 24.57% of the stock is owned by institutional investors and hedge funds.

Merchants Bancorp Price Performance

MBIN stock traded up $0.09 during trading hours on Friday, hitting $32.63. 39,520 shares of the stock traded hands, compared to its average volume of 179,013. The stock has a 50-day simple moving average of $33.15 and a 200 day simple moving average of $34.41. Merchants Bancorp has a one year low of $27.25 and a one year high of $47.42. The company has a market cap of $1.50 billion, a P/E ratio of 7.17 and a beta of 1.30. The company has a current ratio of 1.20, a quick ratio of 0.88 and a debt-to-equity ratio of 2.45.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.60 earnings per share 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 firm had revenue of $179.20 million for the quarter, compared to the consensus estimate of $161.10 million. Equities analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a $0.10 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. Merchants Bancorp's dividend payout ratio (DPR) is 8.79%.

Insider Buying and Selling at Merchants Bancorp

In related news, CAO Darin L. Thomas purchased 3,353 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average price of $29.71 per share, for a total transaction of $99,617.63. Following the transaction, the chief accounting officer directly owned 2,250 shares of the company's stock, valued at $66,847.50. This trade represents a -303.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 34.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MBIN has been the topic of several analyst reports. Wall Street Zen lowered Merchants Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Morgan Stanley dropped their target price on Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 29th. Piper Sandler reaffirmed an "overweight" rating and issued a $41.00 target price (down from $42.00) on shares of Merchants Bancorp in a research report on Wednesday, July 30th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $40.00 target price (down from $41.00) on shares of Merchants Bancorp in a research report on Tuesday, July 29th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Merchants Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $38.33.

About Merchants Bancorp

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.