Quest Partners LLC Has $402,000 Stock Position in Merchants Bancorp (NASDAQ:MBIN)

Quest Partners LLC lifted its stake in Merchants Bancorp (NASDAQ:MBIN) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,913 shares of the company’s stock after acquiring an additional 1,039 shares during the quarter. Quest Partners LLC’s holdings in Merchants Bancorp were worth $402,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

MBIN has been the subject of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $56.00 target price (down from $58.50) on shares of Merchants Bancorp in a research note on Friday, May 17th. Morgan Stanley assumed coverage on Merchants Bancorp in a research note on Monday, September 9th. They set an “equal weight” rating and a $54.00 target price for the company. Finally, Raymond James cut Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and increased their price target for the company from $55.00 to $58.00 in a research note on Tuesday, July 30th.

Merchants Bancorp Stock Up 3.9 %

Merchants Bancorp stock opened at $43.90 on Friday. The company’s 50-day moving average price is $44.50 and its two-hundred day moving average price is $42.44. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. The stock has a market cap of $2.01 billion, a P/E ratio of 6.89 and a beta of 1.10. Merchants Bancorp has a twelve month low of $25.78 and a twelve month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Monday, July 29th. The company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.08). Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. The firm had revenue of $359.62 million for the quarter, compared to the consensus estimate of $160.70 million. During the same quarter last year, the business posted $1.31 EPS. As a group, analysts expect that Merchants Bancorp will post 6.09 EPS for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.09 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.82%. Merchants Bancorp’s payout ratio is presently 5.65%.

Insider Activity at Merchants Bancorp

In other Merchants Bancorp news, CEO Michael F. Petrie sold 22,050 shares of Merchants Bancorp stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total value of $999,747.00. Following the completion of the sale, the chief executive officer now owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael R. Dury bought 6,000 shares of Merchants Bancorp stock in a transaction dated Wednesday, July 31st. The shares were bought at an average cost of $44.82 per share, with a total value of $268,920.00. Following the acquisition, the chief executive officer now owns 88,593 shares in the company, valued at approximately $3,970,738.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Petrie sold 22,050 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the completion of the transaction, the chief executive officer now owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. The disclosure for this sale can be found here. 39.70% of the stock is currently owned by corporate 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.