Merchants Bancorp $MBIN Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Merchants Bancorp by 1.9%, owning a total of 480,622 shares valued at approximately $17.8 million after acquiring an additional 9,192 shares in the first quarter.
• Merchants Bancorp reported a quarterly EPS of $0.60, missing analysts' estimates of $1.12, while its revenue was $179.2 million, exceeding the consensus estimate of $161.1 million.
• The company recently announced a quarterly dividend of $0.10 per share, set to be paid on October 1st, translating to an annual yield of 1.3%.

Invesco Ltd. increased its stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 480,622 shares of the company's stock after buying an additional 9,192 shares during the quarter. Invesco Ltd. owned about 1.05% of Merchants Bancorp worth $17,783,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Merchants Bancorp by 182.2% during the first quarter. Signaturefd LLC now owns 731 shares of the company's stock worth $27,000 after acquiring an additional 472 shares during the last quarter. CWM LLC increased its stake in Merchants Bancorp by 168.9% during the first quarter. CWM LLC now owns 1,358 shares of the company's stock worth $50,000 after acquiring an additional 853 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Merchants Bancorp during the fourth quarter worth $79,000. Tower Research Capital LLC TRC increased its stake in Merchants Bancorp by 118.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock worth $130,000 after acquiring an additional 1,933 shares during the last quarter. Finally, Matrix Trust Co increased its stake in Merchants Bancorp by 45.0% during 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 during the last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.

Insider Buying and Selling

In related news, CAO Darin L. Thomas bought 3,353 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $29.71 per share, with a total value of $99,617.63. Following the purchase, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 34.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MBIN shares. Wall Street Zen cut Merchants Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Morgan Stanley cut their target price on Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 29th. 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 note on Tuesday, July 29th. Finally, Piper Sandler reissued an "overweight" rating and set a $41.00 target price (down previously from $42.00) on shares of Merchants Bancorp in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $38.33.

Merchants Bancorp Trading Up 0.5%

Shares of NASDAQ MBIN traded up $0.18 during trading on Wednesday, reaching $32.97. The stock had a trading volume of 279,674 shares, compared to its average volume of 225,266. Merchants Bancorp has a fifty-two week low of $27.25 and a fifty-two week high of $47.42. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.88 and a current ratio of 1.20. The business's 50-day moving average price is $33.12 and its 200-day moving average price is $34.48. The company has a market cap of $1.51 billion, a P/E ratio of 7.25 and a beta of 1.30.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $161.10 million. On average, equities research analysts predict that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, September 15th. Merchants Bancorp's payout ratio is presently 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.