Strs Ohio Invests $555,000 in Merchants Bancorp $MBIN

Key Points

• Strs Ohio acquired 15,000 shares of Merchants Bancorp for approximately $555,000 in the first quarter, marking a new investment in the company.
• Multiple institutional investors have also increased their positions in Merchants Bancorp, with significant increases reported by Signaturefd LLC (182.2%) and GAMMA Investing LLC (4,443.0%).
• Merchants Bancorp recently announced a quarterly dividend of $0.10 per share, with a yield of 1.2%, and reported a net margin of 18.06% and a return on equity of 16.06% for the last quarter.

Strs Ohio purchased a new stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,000 shares of the company's stock, valued at approximately $555,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FJ Capital Management LLC bought a new stake in shares of Merchants Bancorp during the 1st quarter worth about $11,699,000. Nuveen LLC acquired a new position in shares of Merchants Bancorp in the 1st quarter worth approximately $5,275,000. Royce & Associates LP increased its holdings in Merchants Bancorp by 21.2% during the 1st quarter. Royce & Associates LP now owns 686,507 shares of the company's stock valued at $25,401,000 after purchasing an additional 120,262 shares in the last quarter. Millennium Management LLC increased its holdings in Merchants Bancorp by 214.1% during the 4th quarter. Millennium Management LLC now owns 126,087 shares of the company's stock valued at $4,598,000 after purchasing an additional 85,948 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in Merchants Bancorp by 24.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 300,550 shares of the company's stock valued at $11,120,000 after buying an additional 59,170 shares during the last quarter. Hedge funds and other institutional investors own 24.57% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on MBIN shares. Piper Sandler reissued 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. Wall Street Zen cut Merchants Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Raymond James Financial restated an "outperform" rating and set a $40.00 target price (down from $41.00) on shares of Merchants Bancorp in a research note on Tuesday, July 29th. Finally, Morgan Stanley decreased their price objective on Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating for the company in a 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, Merchants Bancorp currently has an average rating of "Moderate Buy" and an average target price of $38.33.

Insider Activity at Merchants Bancorp

In other news, CAO Darin L. Thomas purchased 3,353 shares of the business's stock in a transaction dated 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 directly owned 2,250 shares in the company, valued at $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 currently owned by insiders.

Merchants Bancorp Price Performance

Shares of NASDAQ MBIN traded up $0.06 during mid-day trading on Tuesday, reaching $32.06. 25,218 shares of the company were exchanged, compared to its average volume of 177,354. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $46.78. The company has a quick ratio of 0.88, a current ratio of 1.20 and a debt-to-equity ratio of 2.45. The stock has a market capitalization of $1.47 billion, a PE ratio of 7.05 and a beta of 1.29. The company's 50 day moving average price is $32.47 and its 200 day moving average price is $33.22.

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 for the quarter, missing the consensus estimate 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 return on equity of 16.06% and a net margin of 18.06%. Sell-side analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

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. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, September 15th. Merchants Bancorp's dividend payout ratio is 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.