Merchants Bancorp $MBIN Stake Trimmed by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 16.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,128 shares of the company’s stock after selling 14,501 shares during the quarter. Russell Investments Group Ltd. owned 0.16% of Merchants Bancorp worth $2,385,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Elser Financial Planning Inc acquired a new stake in shares of Merchants Bancorp during the second quarter valued at approximately $934,497,000. Vanguard Group Inc. raised its stake in Merchants Bancorp by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 1,233,965 shares of the company’s stock valued at $45,657,000 after purchasing an additional 26,111 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Merchants Bancorp by 17.4% in the second quarter. Geode Capital Management LLC now owns 681,486 shares of the company’s stock valued at $22,539,000 after purchasing an additional 101,139 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Merchants Bancorp by 10.7% in the second quarter. American Century Companies Inc. now owns 567,980 shares of the company’s stock valued at $18,783,000 after purchasing an additional 55,038 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Merchants Bancorp by 1.9% in the first quarter. Invesco Ltd. now owns 480,622 shares of the company’s stock worth $17,783,000 after buying an additional 9,192 shares during the period. 24.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MBIN. Weiss Ratings reissued a “hold (c)” rating on shares of Merchants Bancorp in a research report on Wednesday, October 8th. UBS Group set a $42.00 price target on shares of Merchants Bancorp in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of Merchants Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Zacks Research upgraded shares of Merchants Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $38.00 target price (down previously from $40.00) on shares of Merchants Bancorp in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Merchants Bancorp currently has an average rating of “Hold” and an average price target of $40.25.

Merchants Bancorp Price Performance

NASDAQ MBIN opened at $34.65 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.10 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $1.59 billion, a PE ratio of 7.97 and a beta of 1.25. Merchants Bancorp has a 12-month low of $27.25 and a 12-month high of $43.82. The company has a 50 day moving average price of $32.16 and a two-hundred day moving average price of $32.49.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.18. Merchants Bancorp had a net margin of 17.73% and a return on equity of 15.20%. The business had revenue of $171.07 million for the quarter, compared to the consensus estimate of $163.90 million. As a group, equities analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, December 15th. Merchants Bancorp’s dividend payout ratio (DPR) is 9.20%.

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.