Vanguard Group Inc. Purchases 26,111 Shares of Merchants Bancorp $MBIN

Key Points

• Vanguard Group Inc. increased its stake in Merchants Bancorp by 2.2% in Q1, now owning approximately 2.69% of the company, which is valued at $45.7 million.
• Merchants Bancorp reported a loss of $0.52 per share in its latest earnings results, missing analysts' expectations while generating revenue of $179.2 million.
• The company declared a quarterly dividend of $0.10, which will be paid on October 1st, showing a 1.2% yield.

Vanguard Group Inc. raised its position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,233,965 shares of the company's stock after buying an additional 26,111 shares during the period. Vanguard Group Inc. owned about 2.69% of Merchants Bancorp worth $45,657,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MBIN. Signaturefd LLC lifted its position in shares of 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 period. CWM LLC lifted its position in shares of Merchants Bancorp by 168.9% in the 1st quarter. CWM LLC now owns 1,358 shares of the company's stock worth $50,000 after purchasing an additional 853 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Merchants Bancorp in the 4th quarter worth about $79,000. Tower Research Capital LLC TRC lifted its position in shares of Merchants Bancorp by 118.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock worth $130,000 after purchasing an additional 1,933 shares during the period. Finally, Matrix Trust Co lifted its position in shares of Merchants Bancorp by 45.0% in the 1st quarter. Matrix Trust Co now owns 3,830 shares of the company's stock worth $142,000 after purchasing an additional 1,188 shares during the period. Hedge funds and other institutional investors own 24.57% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other Merchants Bancorp news, CAO Darin L. Thomas purchased 3,353 shares of the firm's stock in a transaction that occurred 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 purchase, the chief accounting officer directly owned 2,250 shares in the company, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. 34.80% of the stock is currently owned by insiders.

Merchants Bancorp Stock Down 0.4%

Shares of Merchants Bancorp stock traded down $0.12 during trading on Friday, hitting $32.42. The company's stock had a trading volume of 148,942 shares, compared to its average volume of 204,243. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.88 and a current ratio of 1.20. The company has a fifty day simple moving average of $33.17 and a two-hundred day simple moving average of $34.22. The company has a market capitalization of $1.49 billion, a PE ratio of 7.13 and a beta of 1.29. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $47.42.

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 (EPS) 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%. Equities research analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently declared 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 dividend yield of 1.2%. The ex-dividend date is Monday, September 15th. Merchants Bancorp's dividend payout ratio (DPR) is presently 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.