Merchants Bancorp (NASDAQ:MBIN) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. cut its holdings in Merchants Bancorp (NASDAQ:MBIN) by 5.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,009 shares of the company’s stock after selling 309 shares during the period. Freedom Investment Management Inc.’s holdings in Merchants Bancorp were worth $225,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in Merchants Bancorp by 48.5% during the third quarter. BNP Paribas Financial Markets now owns 32,156 shares of the company’s stock worth $1,446,000 after purchasing an additional 10,508 shares in the last quarter. FMR LLC lifted its stake in Merchants Bancorp by 214.5% during the third quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after purchasing an additional 2,699 shares in the last quarter. Siena Capital Partners GP LLC acquired a new position in Merchants Bancorp during the third quarter worth $822,000. Foundry Partners LLC acquired a new position in Merchants Bancorp during the third quarter worth $3,477,000. Finally, Royce & Associates LP lifted its stake in Merchants Bancorp by 143.1% during the third quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock worth $22,039,000 after purchasing an additional 288,553 shares in the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Stock Down 0.1 %

Merchants Bancorp stock opened at $41.28 on Monday. Merchants Bancorp has a 1-year low of $33.05 and a 1-year high of $53.27. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The stock has a market cap of $1.89 billion, a PE ratio of 6.83 and a beta of 1.12. The stock’s fifty day moving average is $42.03 and its two-hundred day moving average is $42.60.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The business had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. During the same quarter in the prior year, the business earned $1.68 earnings per share. On average, sell-side analysts expect that Merchants Bancorp will post 5.74 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, December 13th. Merchants Bancorp’s dividend payout ratio is presently 5.96%.

Insider Buying and Selling at Merchants Bancorp

In other news, Director Patrick D. O’brien bought 40,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $1,000,000. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 39.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MBIN shares. Piper Sandler lifted their target price on Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Morgan Stanley started coverage on Merchants Bancorp in a report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 target price for the company. Finally, Raymond James decreased their target price on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th.

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.