Merchants Bancorp $MBIN Shares Purchased by Valeo Financial Advisors LLC

Key Points

• Valeo Financial Advisors LLC increased its stake in Merchants Bancorp by 4.9%, owning approximately 236,425 shares worth $7.8 million at the end of the second quarter.
• Merchants Bancorp reported earnings per share (EPS) of $0.60 for the last quarter, which was below the consensus estimate of $1.12, but revenue exceeded expectations with $179.2 million.
• The company announced a quarterly dividend of $0.10 per share, translating into an annualized dividend yield of 1.2% based on a payout ratio of 8.79%.

Valeo Financial Advisors LLC lifted its stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 4.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 236,425 shares of the company's stock after buying an additional 10,998 shares during the quarter. Valeo Financial Advisors LLC owned approximately 0.52% of Merchants Bancorp worth $7,819,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Matrix Trust Co increased its position in shares of Merchants Bancorp by 10.3% during the second quarter. Matrix Trust Co now owns 4,226 shares of the company's stock worth $140,000 after purchasing an additional 396 shares in the last quarter. Victory Capital Management Inc. raised its position in Merchants Bancorp by 3.8% during the 1st quarter. Victory Capital Management Inc. now owns 11,891 shares of the company's stock worth $440,000 after buying an additional 432 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Merchants Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company's stock worth $397,000 after acquiring an additional 449 shares during the period. Signaturefd LLC raised its stake in shares of Merchants Bancorp by 182.2% during the 1st quarter. Signaturefd LLC now owns 731 shares of the company's stock worth $27,000 after buying an additional 472 shares in the last quarter. Finally, LPL Financial LLC raised its position in Merchants Bancorp by 1.1% in the first quarter. LPL Financial LLC now owns 48,429 shares of the company's stock worth $1,792,000 after acquiring an additional 526 shares in the last quarter. Hedge funds and other institutional investors own 24.57% of the company's stock.

Merchants Bancorp Price Performance

Shares of Merchants Bancorp stock opened at $32.17 on Monday. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $46.78. 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 stock has a market cap of $1.48 billion, a PE ratio of 7.07 and a beta of 1.29. The company's 50-day moving average price is $31.97 and its two-hundred day moving average price is $32.87.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.52). The company 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, sell-side analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was 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%.

Wall Street Analysts Forecast Growth

MBIN has been the subject of a number of research reports. Piper Sandler reiterated an "overweight" rating and set a $41.00 price target (down from $42.00) on shares of Merchants Bancorp in a research report on Wednesday, July 30th. Wall Street Zen cut shares of Merchants Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Morgan Stanley reaffirmed an "underperform" rating and issued a $39.00 price objective (up previously from $34.00) on shares of Merchants Bancorp in a research report on Monday, September 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Merchants Bancorp in a research report on Saturday, September 27th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $40.00 price objective (down from $41.00) on shares of Merchants Bancorp in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $40.00.

Insider Buying and Selling

In other news, CAO Darin L. Thomas acquired 3,353 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average price of $29.71 per share, for a total transaction of $99,617.63. Following the completion of the acquisition, the chief accounting officer owned 2,250 shares of the company's stock, valued at approximately $66,847.50. This 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 hyperlink. 34.80% of the stock is owned by company 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.

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