Knights of Columbus Asset Advisors LLC Sells 17,398 Shares of Merchants Bancorp (NASDAQ:MBIN)

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Merchants Bancorp by 27.7%, owning 45,480 shares valued at approximately $1.68 million after selling 17,398 shares during the first quarter.
• Merchants Bancorp reported earnings per share of $0.93 for the latest quarter, missing estimates by $0.32, while its revenues significantly exceeded expectations at $287.20 million.
• The company has declared a quarterly dividend of $0.10 per share, with an annualized yield of 1.15% and a dividend payout ratio of 7.35%.

Knights of Columbus Asset Advisors LLC lowered its position in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,480 shares of the company's stock after selling 17,398 shares during the quarter. Knights of Columbus Asset Advisors LLC owned about 0.10% of Merchants Bancorp worth $1,683,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Merchants Bancorp in the fourth quarter valued at $2,095,000. Quantbot Technologies LP increased its stake in Merchants Bancorp by 106.6% in the fourth quarter. Quantbot Technologies LP now owns 17,262 shares of the company's stock valued at $630,000 after acquiring an additional 8,908 shares during the last quarter. American Century Companies Inc. increased its stake in Merchants Bancorp by 11.5% in the fourth quarter. American Century Companies Inc. now owns 474,904 shares of the company's stock valued at $17,320,000 after acquiring an additional 48,881 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Merchants Bancorp in the fourth quarter valued at $375,000. Finally, LPL Financial LLC increased its stake in Merchants Bancorp by 1.1% in the fourth quarter. LPL Financial LLC now owns 47,903 shares of the company's stock valued at $1,747,000 after acquiring an additional 527 shares during the last quarter. Institutional investors own 24.57% of the company's stock.

Merchants Bancorp Trading Up 1.9%

Shares of NASDAQ:MBIN traded up $0.58 on Wednesday, reaching $31.84. 59,804 shares of the company traded hands, compared to its average volume of 172,199. The business's 50-day simple moving average is $33.28 and its 200 day simple moving average is $35.67. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $47.94. The stock has a market capitalization of $1.46 billion, a P/E ratio of 7.00 and a beta of 1.28. The company has a current ratio of 1.20, a quick ratio of 0.88 and a debt-to-equity ratio of 2.49.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.60 earnings per share (EPS) 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 16.26%. The company had revenue of $179.20 million for the quarter, compared to the consensus estimate of $161.10 million. As a group, equities analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.26%. Merchants Bancorp's dividend payout ratio is currently 7.35%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MBIN. Raymond James Financial reissued an "outperform" rating and issued a $40.00 target price (down previously from $41.00) on shares of Merchants Bancorp in a research note on Tuesday. Morgan Stanley reduced their target price on Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Piper Sandler reduced their target price on Merchants Bancorp from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Wall Street Zen cut Merchants Bancorp from a "hold" rating to a "sell" rating in a research note on Friday, June 27th.

Merchants Bancorp Company 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.