Valeo Financial Advisors LLC Cuts Stock Position in Merchants Bancorp (NASDAQ:MBIN)

Valeo Financial Advisors LLC lessened its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 7.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 218,537 shares of the company’s stock after selling 16,913 shares during the quarter. Valeo Financial Advisors LLC owned about 0.50% of Merchants Bancorp worth $9,825,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Merchants Bancorp by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company’s stock worth $41,465,000 after purchasing an additional 94,781 shares during the period. Vanguard Group Inc. increased its stake in shares of Merchants Bancorp by 2.5% during the first quarter. Vanguard Group Inc. now owns 994,962 shares of the company’s stock worth $42,962,000 after buying an additional 24,122 shares during the period. American Century Companies Inc. raised its holdings in Merchants Bancorp by 23.0% in the second quarter. American Century Companies Inc. now owns 370,257 shares of the company’s stock valued at $15,010,000 after acquiring an additional 69,133 shares in the last quarter. Marshall Wace LLP lifted its stake in Merchants Bancorp by 6,793.6% in the second quarter. Marshall Wace LLP now owns 365,290 shares of the company’s stock worth $14,809,000 after acquiring an additional 359,991 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Merchants Bancorp by 91.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock worth $10,721,000 after acquiring an additional 126,375 shares in the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Trading Up 0.3 %

Shares of Merchants Bancorp stock opened at $44.87 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81. The company has a fifty day simple moving average of $43.68 and a 200-day simple moving average of $42.74. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 6.85 and a beta of 1.09. Merchants Bancorp has a 12-month low of $25.78 and a 12-month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings data on Monday, July 29th. The company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.08). Merchants Bancorp had a net margin of 23.14% and a return on equity of 25.54%. The company had revenue of $359.62 million during the quarter, compared to analyst estimates of $160.70 million. During the same quarter in the prior year, the company earned $1.31 EPS. On average, equities analysts forecast that Merchants Bancorp will post 6.08 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Friday, September 13th. Merchants Bancorp’s payout ratio is currently 5.50%.

Insider Transactions at Merchants Bancorp

In other news, Vice Chairman Randall D. Rogers sold 75,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the transaction, the insider now directly owns 748,000 shares in the company, valued at $32,912,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Michael R. Dury bought 6,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were bought at an average price of $44.82 per share, with a total value of $268,920.00. Following the completion of the acquisition, the chief executive officer now owns 88,593 shares of the company’s stock, valued at approximately $3,970,738.26. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the transaction, the insider now owns 748,000 shares of the company’s stock, valued at $32,912,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 39.70% of the company’s stock.

Analysts Set New Price Targets

MBIN has been the subject of several recent analyst reports. Raymond James cut shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $58.00 in a research report on Tuesday, July 30th. Morgan Stanley began coverage on Merchants Bancorp in a report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price target for the company.

Merchants Bancorp Company 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.