Russell Investments Group Ltd. raised its position in Merchants Bancorp (NASDAQ:MBIN – Get Rating) by 41.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,602 shares of the company’s stock after purchasing an additional 5,119 shares during the period. Russell Investments Group Ltd.’s holdings in Merchants Bancorp were worth $480,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Valeo Financial Advisors LLC lifted its holdings in shares of Merchants Bancorp by 73.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 260,325 shares of the company’s stock worth $7,128,000 after acquiring an additional 110,125 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Merchants Bancorp by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 252,619 shares of the company’s stock worth $11,957,000 after purchasing an additional 3,447 shares during the last quarter. Maltese Capital Management LLC lifted its stake in Merchants Bancorp by 5.2% in the fourth quarter. Maltese Capital Management LLC now owns 160,900 shares of the company’s stock worth $7,616,000 after purchasing an additional 7,900 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Merchants Bancorp by 54.3% in the first quarter. Assenagon Asset Management S.A. now owns 87,881 shares of the company’s stock worth $2,406,000 after purchasing an additional 30,913 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Merchants Bancorp by 105.7% in the fourth quarter. Renaissance Technologies LLC now owns 68,288 shares of the company’s stock worth $3,232,000 after purchasing an additional 35,088 shares during the last quarter. 14.78% of the stock is owned by institutional investors.
Insider Buying and Selling at Merchants Bancorp
In other Merchants Bancorp news, Vice Chairman Randall D. Rogers sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $28.00, for a total value of $280,000.00. Following the transaction, the insider now owns 100,194 shares in the company, valued at $2,805,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 40.75% of the company’s stock.
Merchants Bancorp Stock Performance
Merchants Bancorp stock opened at $27.34 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $1.18 billion, a PE ratio of 5.40 and a beta of 1.11. The firm has a fifty day simple moving average of $24.75 and a two-hundred day simple moving average of $25.93. Merchants Bancorp has a twelve month low of $21.52 and a twelve month high of $33.57.
Merchants Bancorp (NASDAQ:MBIN – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.21. Merchants Bancorp had a net margin of 45.42% and a return on equity of 26.94%. Research analysts expect that Merchants Bancorp will post 4.54 EPS for the current year.
Merchants Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Wednesday, September 14th. Merchants Bancorp’s payout ratio is 5.53%.
Analyst Ratings Changes
Separately, Raymond James boosted their price target on shares of Merchants Bancorp from $33.00 to $37.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 1st.
About Merchants Bancorp
Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.
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