Trexquant Investment LP Has $599,000 Stock Holdings in Merchants Bancorp $MBIN

Key Points

• Trexquant Investment LP has significantly reduced its position in Merchants Bancorp, now holding only $599,000 worth of shares after selling over 35,000 during the first quarter.
• Merchants Bancorp reported a quarterly earnings miss with an EPS of $0.60, falling short of analyst expectations of $1.12, despite revenues exceeding estimates.
• The company declared a quarterly dividend of $0.10 per share, with a yield of 1.2%, set to be paid on October 1st, highlighting a low dividend payout ratio of 8.79%.

Trexquant Investment LP reduced its position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 68.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,200 shares of the company's stock after selling 35,242 shares during the quarter. Trexquant Investment LP's holdings in Merchants Bancorp were worth $599,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MBIN. Price T Rowe Associates Inc. MD grew its stake in Merchants Bancorp by 14.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,863 shares of the company's stock worth $251,000 after buying an additional 846 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Merchants Bancorp by 94.2% in the fourth quarter. Jane Street Group LLC now owns 20,513 shares of the company's stock worth $748,000 after acquiring an additional 9,952 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Merchants Bancorp by 76.0% in the fourth quarter. Ameriprise Financial Inc. now owns 82,200 shares of the company's stock valued at $2,998,000 after buying an additional 35,492 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Merchants Bancorp by 27.8% in the fourth quarter. Bank of America Corp DE now owns 31,501 shares of the company's stock valued at $1,149,000 after purchasing an additional 6,847 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in Merchants Bancorp by 4.0% in the fourth quarter. Cetera Investment Advisers now owns 9,800 shares of the company's stock worth $357,000 after acquiring an additional 381 shares during the period. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Merchants Bancorp Price Performance

NASDAQ MBIN traded up $0.42 on Thursday, reaching $31.97. The company's stock had a trading volume of 71,774 shares, compared to its average volume of 178,705. The firm has a market cap of $1.47 billion, a PE ratio of 7.02 and a beta of 1.30. The business has a 50-day moving average price of $33.00 and a 200 day moving average price of $33.76. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $47.42. The company has a current ratio of 1.20, a quick ratio of 0.88 and a debt-to-equity ratio of 2.45.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($0.52). The firm had revenue of $179.20 million during the quarter, compared to analyst estimates of $161.10 million. Merchants Bancorp had a net margin of 18.06% and a return on equity of 16.06%. Sell-side analysts expect that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Dividend Announcement

The business also recently declared 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. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, September 15th. Merchants Bancorp's dividend payout ratio is 8.79%.

Analyst Ratings Changes

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

Insider Activity at Merchants Bancorp

In related news, CAO Darin L. Thomas purchased 3,353 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were acquired at an average cost of $29.71 per share, with a total value of $99,617.63. Following the completion of the purchase, the chief accounting officer directly owned 2,250 shares of the company's stock, valued at $66,847.50. This trade represents a -303.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.