Merchants Bancorp (NASDAQ:MBIN) Shares Sold by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. trimmed its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 601,954 shares of the company’s stock after selling 34,683 shares during the period. Merchants Bancorp comprises 1.4% of Basswood Capital Management L.L.C.’s holdings, making the stock its 24th largest position. Basswood Capital Management L.L.C.’s holdings in Merchants Bancorp were worth $27,064,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MBIN. CWM LLC increased its holdings in Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after buying an additional 869 shares in the last quarter. nVerses Capital LLC grew 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 valued at $61,000 after acquiring an additional 1,300 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Merchants Bancorp in the 3rd quarter valued at about $162,000. Point72 Asset Management L.P. raised its holdings in Merchants Bancorp by 54.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock worth $163,000 after purchasing an additional 1,412 shares during the period. Finally, FMR LLC boosted its position 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. 24.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Merchants Bancorp

In related news, Director Patrick D. O’brien acquired 40,000 shares of the stock in a transaction on Monday, November 18th. The shares were bought at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the purchase, the director now owns 40,000 shares of the company’s stock, valued at approximately $1,000,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 39.70% of the stock is owned by corporate insiders.

Merchants Bancorp Stock Performance

NASDAQ MBIN opened at $41.28 on Monday. 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’s 50 day simple moving average is $42.03 and its 200-day simple moving average is $42.60. The company has a market cap of $1.89 billion, a PE ratio of 6.83 and a beta of 1.12. Merchants Bancorp has a 1-year low of $33.05 and a 1-year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data 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 firm had revenue of $355.67 million during the quarter, compared to analysts’ expectations of $156.13 million. During the same quarter in the previous year, the business posted $1.68 EPS. As a group, equities research analysts anticipate 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. Investors of record on Friday, December 13th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. Merchants Bancorp’s payout ratio is presently 5.96%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MBIN. Raymond James reduced their target price on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Piper Sandler upped their price objective 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. Finally, Morgan Stanley assumed coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 target price on the stock.

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.