Denali Advisors LLC Raises Stock Position in Merchants Bancorp (NASDAQ:MBIN)

Denali Advisors LLC lifted its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 58.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,224 shares of the company’s stock after buying an additional 47,911 shares during the quarter. Merchants Bancorp comprises about 1.4% of Denali Advisors LLC’s holdings, making the stock its 25th biggest holding. Denali Advisors LLC’s holdings in Merchants Bancorp were worth $5,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of MBIN. Assenagon Asset Management S.A. lifted its position in shares of 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 buying an additional 126,375 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Merchants Bancorp by 14.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 795,381 shares of the company’s stock valued at $33,869,000 after acquiring an additional 102,051 shares during the period. Ovata Capital Management Ltd acquired a new position in shares of Merchants Bancorp in the 2nd quarter valued at $4,054,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Merchants Bancorp by 441.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company’s stock valued at $4,608,000 after acquiring an additional 87,012 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Merchants Bancorp by 23.0% in the 2nd 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 during the period. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Insider Transactions at Merchants Bancorp

In other news, CEO Michael F. Petrie sold 22,050 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the transaction, the chief executive officer now directly owns 1,990,545 shares of the company’s stock, valued at approximately $90,251,310.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Michael F. Petrie sold 22,050 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total value of $999,747.00. Following the sale, the chief executive officer now directly owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the completion of the sale, the insider now owns 748,000 shares in the company, valued at $32,912,000. The disclosure for this sale can be found here. Corporate insiders own 39.70% of the company’s stock.

Merchants Bancorp Stock Performance

Shares of MBIN opened at $44.88 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.01. The stock has a market capitalization of $1.95 billion, a P/E ratio of 7.05 and a beta of 1.10. The company’s fifty day moving average is $44.59 and its two-hundred day moving average is $42.47. Merchants Bancorp has a 1 year low of $25.78 and a 1 year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced 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). The firm had revenue of $359.62 million during the quarter, compared to analyst estimates of $160.70 million. Merchants Bancorp had a net margin of 23.14% and a return on equity of 25.54%. During the same period in the prior year, the firm posted $1.31 earnings per share. On average, sell-side analysts predict that Merchants Bancorp will post 6.09 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.65%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MBIN. Raymond James cut shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $58.00 in a report on Tuesday, July 30th. Morgan Stanley began coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 target price on the stock.

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.