Nuveen Asset Management LLC Lowers Position in Merchants Bancorp (NASDAQ:MBIN)

Nuveen Asset Management LLC reduced its position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,367 shares of the company's stock after selling 37,223 shares during the period. Nuveen Asset Management LLC owned about 0.22% of Merchants Bancorp worth $3,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MBIN. Elser Financial Planning Inc bought a new stake in shares of Merchants Bancorp during the fourth quarter worth about $994,207,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Merchants Bancorp by 5.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 89,841 shares of the company's stock worth $3,276,000 after purchasing an additional 4,485 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Merchants Bancorp by 3.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 225,419 shares of the company's stock worth $8,221,000 after purchasing an additional 6,882 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Merchants Bancorp by 4.4% during the fourth quarter. Rhumbline Advisers now owns 28,753 shares of the company's stock worth $1,049,000 after purchasing an additional 1,201 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of Merchants Bancorp during the fourth quarter worth about $25,000. 24.57% of the stock is currently owned by institutional investors.

Merchants Bancorp Trading Up 0.6%

MBIN traded up $0.20 during trading on Thursday, hitting $31.56. The company's stock had a trading volume of 141,449 shares, compared to its average volume of 178,850. 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 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. The stock's fifty day moving average price is $32.44 and its 200-day moving average price is $36.82. The firm has a market capitalization of $1.45 billion, a P/E ratio of 5.00 and a beta of 1.31.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.32). Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. The business had revenue of $287.20 million during the quarter, compared to analyst estimates of $169.00 million. Analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, June 13th. Merchants Bancorp's payout ratio is 7.35%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MBIN shares. Raymond James reiterated an "outperform" rating and issued a $41.00 target price (down from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th. Morgan Stanley reduced their target price on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Finally, Wall Street Zen cut Merchants Bancorp from a "hold" rating to a "sell" rating in a report on Sunday.

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.