Wakefield Asset Management LLLP Takes $995,000 Position in Merchants Bancorp (NASDAQ:MBIN)

Wakefield Asset Management LLLP acquired a new stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 26,886 shares of the company's stock, valued at approximately $995,000. Wakefield Asset Management LLLP owned approximately 0.06% of Merchants Bancorp as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MBIN. Signaturefd LLC lifted its holdings in Merchants Bancorp by 182.2% during the 1st quarter. Signaturefd LLC now owns 731 shares of the company's stock worth $27,000 after buying an additional 472 shares during the last quarter. CWM LLC lifted its holdings in Merchants Bancorp by 168.9% during the 1st quarter. CWM LLC now owns 1,358 shares of the company's stock worth $50,000 after buying an additional 853 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Merchants Bancorp during the 4th quarter worth approximately $79,000. Tower Research Capital LLC TRC lifted its holdings in Merchants Bancorp by 118.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock worth $130,000 after buying an additional 1,933 shares during the last quarter. Finally, Matrix Trust Co lifted its holdings in Merchants Bancorp by 45.0% during the 1st quarter. Matrix Trust Co now owns 3,830 shares of the company's stock worth $142,000 after buying an additional 1,188 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.

Merchants Bancorp Stock Performance

Shares of NASDAQ MBIN traded up $0.20 during mid-day trading on Friday, hitting $34.69. The company had a trading volume of 162,562 shares, compared to its average volume of 221,353. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 6.38 and a beta of 1.28. Merchants Bancorp has a 12 month low of $27.25 and a 12 month high of $53.27. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.20 and a quick ratio of 0.88. The firm's 50 day simple moving average is $33.26 and its two-hundred day simple moving average is $35.69.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.32). The business had revenue of $287.20 million for the quarter, compared to the consensus estimate of $169.00 million. Merchants Bancorp had a net margin of 20.73% and a return on equity of 19.09%. As a group, equities research analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Friday, June 13th. Merchants Bancorp's payout ratio is currently 7.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MBIN shares. Raymond James Financial reaffirmed an "outperform" rating and set a $41.00 target price (down previously from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th. Wall Street Zen downgraded Merchants Bancorp from a "hold" rating to a "sell" rating in a report on Friday, June 27th.

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.