Verition Fund Management LLC Has $240,000 Stock Holdings in Merchants Bancorp (NASDAQ:MBIN)

Verition Fund Management LLC decreased its stake in Merchants Bancorp (NASDAQ:MBIN) by 45.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,342 shares of the company’s stock after selling 4,467 shares during the quarter. Verition Fund Management LLC’s holdings in Merchants Bancorp were worth $240,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Merchants Bancorp by 75.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 142,553 shares of the company’s stock worth $5,779,000 after acquiring an additional 61,292 shares in the last quarter. Royce & Associates LP raised its stake in shares of Merchants Bancorp by 143.1% during the 3rd 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. Millennium Management LLC lifted its holdings in shares of Merchants Bancorp by 139.9% during the 2nd quarter. Millennium Management LLC now owns 91,579 shares of the company’s stock valued at $3,713,000 after buying an additional 53,401 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in shares of Merchants Bancorp in the 2nd quarter valued at approximately $1,060,000. Finally, US Bancorp DE increased its holdings in Merchants Bancorp by 8,677.6% in the third quarter. US Bancorp DE now owns 5,881 shares of the company’s stock worth $264,000 after buying an additional 5,814 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Trading Up 0.3 %

Shares of MBIN stock opened at $38.48 on Monday. Merchants Bancorp has a 12 month low of $35.56 and a 12 month high of $53.27. The company has a market cap of $1.76 billion, a PE ratio of 6.37 and a beta of 1.13. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. The business’s 50 day moving average is $41.04 and its two-hundred day moving average is $42.45.

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

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.09 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.94%. Merchants Bancorp’s payout ratio is presently 5.96%.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Patrick D. O’brien acquired 40,000 shares of the 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 purchase, the director now owns 40,000 shares in the company, valued at approximately $1,000,000. The trade was a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 39.70% of the stock is owned by insiders.

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.