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 decreased its position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 27.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,480 shares of the company's stock after selling 17,398 shares during the period. Knights of Columbus Asset Advisors LLC owned approximately 0.10% of Merchants Bancorp worth $1,683,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

Several brokerages have commented on MBIN. Wall Street Zen lowered shares of Merchants Bancorp from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Raymond James Financial reaffirmed an "outperform" rating and set a $41.00 price target (down previously from $45.00) on shares of Merchants Bancorp in a research note on Tuesday, April 29th.

Merchants Bancorp Stock Up 1.1%

Shares of MBIN traded up $0.37 during trading on Monday, reaching $35.06. The company's stock had a trading volume of 107,782 shares, compared to its average volume of 172,598. Merchants Bancorp has a twelve month low of $27.25 and a twelve month high of $53.27. The company has a quick ratio of 0.88, a current ratio of 1.20 and a debt-to-equity ratio of 2.49. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 6.44 and a beta of 1.28. The company has a fifty day moving average of $33.26 and a two-hundred day moving average of $35.69.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.48). Merchants Bancorp had a return on equity of 19.09% and a net margin of 20.73%. On average, sell-side 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 was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Friday, June 13th. Merchants Bancorp's dividend payout ratio is 7.35%.

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.