The Manufacturers Life Insurance Company Acquires 1,230 Shares of Merchants Bancorp (NASDAQ:MBIN)

The Manufacturers Life Insurance Company grew its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 10.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,046 shares of the company’s stock after buying an additional 1,230 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Merchants Bancorp were worth $529,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. nVerses Capital LLC lifted 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 buying an additional 1,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Merchants Bancorp by 79.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock worth $193,000 after buying an additional 2,101 shares in the last quarter. Wellington Wealth Strategies LLC. bought a new position in shares of Merchants Bancorp during the 1st quarter worth approximately $202,000. Price T Rowe Associates Inc. MD bought a new position in shares of Merchants Bancorp during the 1st quarter worth approximately $202,000. Finally, Sandia Investment Management LP bought a new position in shares of Merchants Bancorp during the 2nd quarter worth approximately $203,000. Institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Trading Up 1.7 %

Shares of MBIN stock opened at $45.87 on Wednesday. Merchants Bancorp has a 12-month low of $25.78 and a 12-month high of $53.27. The firm has a market cap of $1.99 billion, a P/E ratio of 7.20 and a beta of 1.09. 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 company has a 50 day moving average of $43.99 and a 200-day moving average of $42.81.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings data 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 net margin of 23.14% and a return on equity of 25.54%. The business had revenue of $359.62 million during the quarter, compared to analysts’ expectations of $160.70 million. During the same quarter in the prior year, the firm posted $1.31 earnings per share. Sell-side analysts anticipate that Merchants Bancorp will post 6.08 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.09 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.78%. Merchants Bancorp’s dividend payout ratio is 5.65%.

Insider Activity at Merchants Bancorp

In related news, Vice Chairman Randall D. Rogers sold 75,000 shares of Merchants Bancorp stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total value of $3,300,000.00. Following the completion of the transaction, the insider now directly owns 748,000 shares in the company, valued at approximately $32,912,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael R. Dury purchased 5,200 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $38.71 per share, with a total value of $201,292.00. Following the acquisition, the chief executive officer now directly owns 93,793 shares in the company, valued at approximately $3,630,727.03. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the completion of the transaction, the insider now directly owns 748,000 shares of the company’s stock, valued at approximately $32,912,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They set an “equal weight” rating and a $54.00 target price on the stock. Raymond James lowered shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $58.00 in a research note on Tuesday, July 30th.

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.