Trexquant Investment LP Has $599,000 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 lowered its stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 68.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Virtus Advisers LLC acquired a new stake in shares of Merchants Bancorp in the first quarter valued at approximately $309,000. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Merchants Bancorp by 24.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 300,550 shares of the company's stock valued at $11,120,000 after purchasing an additional 59,170 shares during the period. Algert Global LLC acquired a new stake in shares of Merchants Bancorp in the first quarter valued at approximately $363,000. American Century Companies Inc. increased its stake in shares of Merchants Bancorp by 8.0% in the first quarter. American Century Companies Inc. now owns 512,942 shares of the company's stock valued at $18,979,000 after purchasing an additional 38,038 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Merchants Bancorp by 56.9% during the 1st quarter. Russell Investments Group Ltd. now owns 86,629 shares of the company's stock worth $3,205,000 after acquiring an additional 31,433 shares during the period. Institutional investors and hedge funds own 24.57% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MBIN. Wall Street Zen lowered Merchants Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Piper Sandler restated an "overweight" rating and issued a $41.00 price objective (down previously from $42.00) on shares of Merchants Bancorp in a report on Wednesday, July 30th. Raymond James Financial restated an "outperform" rating and issued a $40.00 price objective (down previously from $41.00) on shares of Merchants Bancorp in a report on Tuesday, July 29th. Finally, Morgan Stanley cut 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 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 presently has a consensus rating of "Moderate Buy" and an average target price of $38.33.

Merchants Bancorp Trading Up 1.7%

Shares of NASDAQ MBIN traded up $0.55 during mid-day trading on Friday, hitting $32.64. 138,883 shares of the company traded hands, compared to its average volume of 186,174. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $47.42. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 7.17 and a beta of 1.30. 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 business has a 50 day moving average of $32.87 and a two-hundred day moving average of $33.64.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.52). Merchants Bancorp had a net margin of 18.06% and a return on equity of 16.06%. The company had revenue of $179.20 million for the quarter, compared to analysts' expectations of $161.10 million. On average, sell-side analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, September 15th. Merchants Bancorp's dividend payout ratio is currently 8.79%.

Insider Transactions at Merchants Bancorp

In other Merchants Bancorp news, CAO Darin L. Thomas acquired 3,353 shares of Merchants Bancorp stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $29.71 per share, with a total value of $99,617.63. Following the purchase, the chief accounting officer owned 2,250 shares in the company, valued at approximately $66,847.50. The trade was a -303.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 34.80% of the company's stock.

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.