Valeo Financial Advisors LLC Has $10.16 Million Stock Position in Merchants Bancorp (NASDAQ:MBIN)

Valeo Financial Advisors LLC lessened its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 8.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 235,321 shares of the company’s stock after selling 21,508 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Merchants Bancorp were worth $10,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sapient Capital LLC acquired a new position in shares of Merchants Bancorp during the 4th quarter worth approximately $2,928,000. Knights of Columbus Asset Advisors LLC lifted its stake in shares of Merchants Bancorp by 94.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 109,732 shares of the company’s stock worth $4,672,000 after buying an additional 53,333 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of Merchants Bancorp during the 4th quarter worth about $2,289,000. Quadrature Capital Ltd bought a new stake in shares of Merchants Bancorp during the 4th quarter worth about $2,658,000. Finally, Federated Hermes Inc. grew its stake in Merchants Bancorp by 42,253.6% in the 4th quarter. Federated Hermes Inc. now owns 217,274 shares of the company’s stock valued at $9,252,000 after buying an additional 216,761 shares during the last quarter. Institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Stock Performance

Merchants Bancorp stock traded down $0.37 during midday trading on Wednesday, hitting $40.76. The company’s stock had a trading volume of 57,580 shares, compared to its average volume of 164,705. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.06 and a quick ratio of 0.81. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 6.46 and a beta of 1.12. Merchants Bancorp has a 1-year low of $24.46 and a 1-year high of $48.68. The company has a 50-day moving average price of $41.41 and a two-hundred day moving average price of $41.48.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, April 29th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.43. Merchants Bancorp had a net margin of 23.55% and a return on equity of 26.65%. The company had revenue of $355.05 million during the quarter, compared to the consensus estimate of $144.15 million. As a group, sell-side analysts predict that Merchants Bancorp will post 6.38 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, June 14th. Merchants Bancorp’s dividend payout ratio is presently 5.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $56.00 price objective (down previously from $58.50) on shares of Merchants Bancorp in a report on Friday, May 17th. Raymond James restated a “strong-buy” rating and issued a $55.00 price target on shares of Merchants Bancorp in a research note on Wednesday, May 15th.

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.