Los Angeles Capital Management LLC Lowers Stock Position in Merchants Bancorp (NASDAQ:MBIN)

Los Angeles Capital Management LLC lessened its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 11.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,922 shares of the company’s stock after selling 3,710 shares during the quarter. Los Angeles Capital Management LLC owned 0.06% of Merchants Bancorp worth $1,132,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. nVerses Capital LLC boosted its stake in Merchants Bancorp by 650.0% during the second quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock worth $61,000 after buying an additional 1,300 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Merchants Bancorp during the first quarter worth about $202,000. Wellington Wealth Strategies LLC. purchased a new position in Merchants Bancorp during the first quarter worth about $202,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Merchants Bancorp by 79.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock valued at $193,000 after purchasing an additional 2,101 shares during the period. Finally, Comerica Bank boosted its stake in shares of Merchants Bancorp by 14,856.3% in the first quarter. Comerica Bank now owns 4,786 shares of the company’s stock valued at $207,000 after purchasing an additional 4,754 shares during the period. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Stock Down 1.5 %

Shares of NASDAQ:MBIN opened at $42.35 on Thursday. The firm’s 50 day moving average price is $44.39 and its 200 day moving average price is $42.42. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 6.65 and a beta of 1.10. Merchants Bancorp has a fifty-two week low of $25.78 and a fifty-two week high of $53.27. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.81.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Monday, July 29th. The company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.08). The firm had revenue of $359.62 million during the quarter, compared to analyst estimates of $160.70 million. Merchants Bancorp had a net margin of 23.14% and a return on equity of 25.54%. During the same period last year, the business earned $1.31 EPS. As a group, equities research analysts predict that Merchants Bancorp will post 6.21 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.09 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.36 annualized dividend and a yield of 0.85%. Merchants Bancorp’s dividend payout ratio (DPR) is 5.65%.

Insider Activity at Merchants Bancorp

In other news, CEO Michael R. Dury bought 6,000 shares of Merchants Bancorp stock in a transaction that occurred on Wednesday, July 31st. The shares were purchased at an average price of $44.82 per share, with a total value of $268,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 88,593 shares in the company, valued at $3,970,738.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Michael R. Dury acquired 5,200 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $38.71 per share, with a total value of $201,292.00. Following the completion of the acquisition, the chief executive officer now owns 93,793 shares in the company, valued at $3,630,727.03. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael R. Dury acquired 6,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average cost of $44.82 per share, for a total transaction of $268,920.00. Following the acquisition, the chief executive officer now owns 88,593 shares of the company’s stock, valued at approximately $3,970,738.26. The disclosure for this purchase can be found here. 39.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $56.00 price objective (down previously from $58.50) on shares of Merchants Bancorp in a research note on Friday, May 17th. Raymond James lowered shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $55.00 to $58.00 in a research note on Tuesday, July 30th. Finally, Morgan Stanley assumed coverage on shares of Merchants Bancorp in a research note on Monday. They issued an “equal weight” rating and a $54.00 price objective for the company.

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.