Nuveen LLC Purchases Shares of 142,571 Merchants Bancorp $MBIN

Key Points

• Nuveen LLC acquired 142,571 shares of Merchants Bancorp, representing a $5.3 million investment, increasing its ownership to approximately 0.31% of the company.
• Merchants Bancorp reported $0.60 earnings per share for the most recent quarter, significantly missing the consensus estimate of $1.12.
• The company has announced a quarterly dividend of $0.10 per share, scheduled to be paid on October 1st, with a 1.2% dividend yield.

Nuveen LLC purchased a new position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 142,571 shares of the company's stock, valued at approximately $5,275,000. Nuveen LLC owned approximately 0.31% of Merchants Bancorp at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Invesco Ltd. boosted its stake in shares of Merchants Bancorp by 1.9% during the 1st quarter. Invesco Ltd. now owns 480,622 shares of the company's stock worth $17,783,000 after acquiring an additional 9,192 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Merchants Bancorp by 167.1% during the 1st 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of Merchants Bancorp by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 1,233,965 shares of the company's stock worth $45,657,000 after acquiring an additional 26,111 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Merchants Bancorp by 10.7% during the 1st quarter. Mackenzie Financial Corp now owns 11,982 shares of the company's stock worth $443,000 after acquiring an additional 1,160 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Merchants Bancorp by 1.1% during the 1st 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 traded down $0.12 during trading on Friday, hitting $32.42. 148,942 shares of the company were exchanged, compared to its average volume of 204,243. The company has a quick ratio of 0.88, a current ratio of 1.20 and a debt-to-equity ratio of 2.45. Merchants Bancorp has a fifty-two week low of $27.25 and a fifty-two week high of $47.42. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 7.13 and a beta of 1.29. The firm has a 50 day moving average price of $33.17 and a 200 day moving average price of $34.22.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings data 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). Merchants Bancorp had a return on equity of 16.06% and a net margin of 18.06%.The company had revenue of $179.20 million for the quarter, compared to analyst estimates of $161.10 million. On average, equities analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently declared 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 is Monday, September 15th. This represents a $0.40 annualized dividend and a yield of 1.2%. Merchants Bancorp's payout ratio is 8.79%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MBIN shares. Piper Sandler reissued an "overweight" rating and set a $41.00 price target (down previously from $42.00) on shares of Merchants Bancorp in a research note on Wednesday, July 30th. Wall Street Zen lowered Merchants Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Morgan Stanley decreased their price target on 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, Raymond James Financial restated an "outperform" rating and set a $40.00 price objective (down from $41.00) on shares of Merchants Bancorp in a research report on Tuesday, July 29th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.33.

Insiders Place Their Bets

In other Merchants Bancorp news, CAO Darin L. Thomas purchased 3,353 shares of the business's stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $29.71 per share, for a total transaction of $99,617.63. Following the acquisition, the chief accounting officer owned 2,250 shares of the company's stock, valued at approximately $66,847.50. The trade was a -303.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 34.80% of the company's stock.

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.