Russell Investments Group Ltd. Has $3.21 Million Position in Merchants Bancorp $MBIN

Key Points

• Russell Investments Group Ltd. increased its stake in Merchants Bancorp by 56.9% during the first quarter, now owning 86,629 shares valued at $3.2 million.
• Merchants Bancorp reported earnings per share (EPS) of $0.60, which fell short of analysts' expectations of $1.12, while revenue was $179.2 million, exceeding expectations of $161.1 million.
• The company announced a quarterly dividend of $0.10 per share, representing an annual yield of 1.2%, with a payout ratio of 8.79%.

Russell Investments Group Ltd. raised its holdings in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 56.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 86,629 shares of the company's stock after acquiring an additional 31,433 shares during the quarter. Russell Investments Group Ltd. owned about 0.19% of Merchants Bancorp worth $3,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MBIN. Nuveen LLC bought a new position in shares of Merchants Bancorp during the first quarter worth $5,275,000. Invesco Ltd. raised its holdings in shares of Merchants Bancorp by 1.9% during the first quarter. Invesco Ltd. now owns 480,622 shares of the company's stock worth $17,783,000 after acquiring an additional 9,192 shares during the period. Deutsche Bank AG raised its holdings in shares of Merchants Bancorp by 167.1% during the first quarter. Deutsche Bank AG now owns 41,595 shares of the company's stock worth $1,539,000 after acquiring an additional 26,022 shares during the period. Vanguard Group Inc. increased its stake in Merchants Bancorp by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,233,965 shares of the company's stock valued at $45,657,000 after buying an additional 26,111 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in Merchants Bancorp by 10.7% in the 1st quarter. Mackenzie Financial Corp now owns 11,982 shares of the company's stock valued at $443,000 after buying an additional 1,160 shares during the last quarter. 24.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $40.00 price target (down from $41.00) on shares of Merchants Bancorp in a research note on Tuesday, July 29th. Wall Street Zen lowered shares of Merchants Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Morgan Stanley lowered 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. Finally, Piper Sandler restated an "overweight" rating and set a $41.00 price objective (down from $42.00) on shares of Merchants Bancorp in a research note on Wednesday, July 30th. Two equities 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 presently has an average rating of "Moderate Buy" and a consensus target price of $38.33.

Merchants Bancorp Stock Performance

NASDAQ MBIN traded down $0.12 during trading on Friday, reaching $32.42. The company's stock had a trading volume of 148,942 shares, compared to its average volume of 217,251. 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 firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 7.13 and a beta of 1.30. Merchants Bancorp has a 12 month low of $27.25 and a 12 month high of $47.42. The firm has a 50 day moving average price of $33.17 and a 200 day moving average price of $34.33.

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

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. Merchants Bancorp's payout ratio is currently 8.79%.

Insider Transactions at Merchants Bancorp

In other Merchants Bancorp news, CAO Darin L. Thomas acquired 3,353 shares of the business's stock in a transaction on Friday, August 22nd. The stock was purchased at an average price of $29.71 per share, with a total value of $99,617.63. Following the acquisition, the chief accounting officer directly owned 2,250 shares of the company's stock, valued at approximately $66,847.50. This trade represents a -303.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 34.80% of the stock is owned by corporate insiders.

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.