Jane Street Group LLC Trims Stock Holdings in Merchants Bancorp (NASDAQ:MBIN)

Jane Street Group LLC lowered its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 42.3% in the third quarter, Holdings Channel.com reports. The fund owned 10,561 shares of the company’s stock after selling 7,747 shares during the quarter. Jane Street Group LLC’s holdings in Merchants Bancorp were worth $475,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MBIN. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Merchants Bancorp by 79.2% during 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. Principal Financial Group Inc. lifted its holdings in Merchants Bancorp by 11.7% during the 2nd quarter. Principal Financial Group Inc. now owns 15,108 shares of the company’s stock valued at $612,000 after buying an additional 1,580 shares in the last quarter. Rhumbline Advisers boosted its position in Merchants Bancorp by 11.8% in the 2nd quarter. Rhumbline Advisers now owns 28,124 shares of the company’s stock valued at $1,140,000 after buying an additional 2,971 shares during the period. Victory Capital Management Inc. grew its stake in Merchants Bancorp by 119.0% in the 2nd quarter. Victory Capital Management Inc. now owns 12,278 shares of the company’s stock worth $498,000 after acquiring an additional 6,671 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of Merchants Bancorp by 11.7% during the second quarter. Quest Partners LLC now owns 9,913 shares of the company’s stock worth $402,000 after acquiring an additional 1,039 shares during the period. Institutional investors own 24.57% of the company’s stock.

Wall Street Analyst Weigh In

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

Merchants Bancorp Price Performance

NASDAQ MBIN opened at $36.28 on Tuesday. The company has a market cap of $1.66 billion, a PE ratio of 6.01 and a beta of 1.14. The firm’s 50 day moving average price is $38.51 and its 200-day moving average price is $42.07. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. Merchants Bancorp has a 52-week low of $35.50 and a 52-week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.25). The company had revenue of $355.67 million for the quarter, compared to the consensus estimate of $156.13 million. Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. During the same period last year, the business posted $1.68 EPS. Sell-side analysts forecast that Merchants Bancorp will post 5.74 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.09 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.99%. Merchants Bancorp’s dividend payout ratio is presently 5.96%.

Insider Buying and Selling at Merchants Bancorp

In related news, Director Patrick D. O’brien bought 40,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the purchase, the director now directly 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 SEC, which is accessible through this hyperlink. Insiders own 39.70% of the company’s stock.

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.