Quantbot Technologies LP Has $182,000 Position in Merchants Bancorp $MBIN

Key Points

• Quantbot Technologies LP reduced its stake in Merchants Bancorp by 71.5%, selling 12,334 shares and holding only 4,928 shares valued at $182,000 as of the last quarter.
• Merchants Bancorp reported a miss in earnings with $0.60 per share, falling short of estimates of $1.12, while achieving a revenue of $179.20 million.
• Multiple brokerages adjusted their ratings for Merchants Bancorp, with Wall Street Zen downgrading the stock from "hold" to "sell," while others like Raymond James maintained an "outperform" rating but lowered their price target to $40.00.

Quantbot Technologies LP trimmed its stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 71.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,928 shares of the company's stock after selling 12,334 shares during the period. Quantbot Technologies LP's holdings in Merchants Bancorp were worth $182,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Signaturefd LLC raised its position in Merchants Bancorp by 182.2% in the 1st quarter. Signaturefd LLC now owns 731 shares of the company's stock worth $27,000 after purchasing an additional 472 shares during the last quarter. CWM LLC boosted its stake in Merchants Bancorp by 168.9% in the first 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 bought a new position in Merchants Bancorp in the fourth quarter valued at approximately $79,000. Tower Research Capital LLC TRC boosted its stake in Merchants Bancorp by 118.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock valued at $130,000 after acquiring an additional 1,933 shares during the last quarter. Finally, Matrix Trust Co increased its stake in 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 in the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Darin L. Thomas acquired 3,353 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were bought at an average price of $29.71 per share, for a total transaction of $99,617.63. Following the purchase, the chief accounting officer directly owned 2,250 shares in the company, valued at approximately $66,847.50. This trade represents a -303.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 34.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on MBIN. Raymond James Financial reaffirmed an "outperform" rating and issued a $40.00 target price (down previously from $41.00) on shares of Merchants Bancorp in a research note on Tuesday, July 29th. Morgan Stanley lowered their target price on shares of Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating for the company 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. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $41.00 price target (down previously from $42.00) on shares of Merchants Bancorp in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Merchants Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

Merchants Bancorp Stock Down 0.7%

Shares of MBIN traded down $0.22 during mid-day trading on Wednesday, hitting $32.14. 140,370 shares of the company's stock were exchanged, compared to its average volume of 190,289. The company has a market cap of $1.47 billion, a PE ratio of 7.06 and a beta of 1.30. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $47.42. The company has a 50-day simple moving average of $33.15 and a 200 day simple moving average of $34.12. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.20 and a quick ratio of 0.88.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.60 earnings per share 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 business had revenue of $179.20 million for the quarter, compared to the consensus estimate of $161.10 million. On average, research analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.10 per share. The ex-dividend date is 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 is currently 8.79%.

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.