Denali Advisors LLC Sells 20,134 Shares of Merchants Bancorp $MBIN

Denali Advisors LLC lowered its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 10.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 174,576 shares of the company’s stock after selling 20,134 shares during the period. Merchants Bancorp makes up approximately 0.9% of Denali Advisors LLC’s portfolio, making the stock its 21st biggest holding. Denali Advisors LLC’s holdings in Merchants Bancorp were worth $8,729,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MBIN. Tower Research Capital LLC TRC raised its stake in shares of Merchants Bancorp by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock worth $73,000 after purchasing an additional 1,153 shares during the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Merchants Bancorp in the first quarter valued at approximately $215,000. Fifth Third Bancorp bought a new position in shares of Merchants Bancorp in the first quarter valued at approximately $270,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Merchants Bancorp during the first quarter valued at approximately $287,000. Finally, Brevan Howard Capital Management LP boosted its position in shares of Merchants Bancorp by 16.7% during the second quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company’s stock valued at $228,000 after buying an additional 984 shares during the last quarter. 24.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

MBIN has been the subject of a number of analyst reports. Zacks Research raised Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $64.00 price objective on shares of Merchants Bancorp in a report on Wednesday, July 29th. Morgan Stanley reiterated a “positive” rating and issued a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a research note on Monday, June 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Merchants Bancorp in a report on Friday, July 31st. Finally, Raymond James Financial downgraded shares of Merchants Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $51.50.

Merchants Bancorp Price Performance

Shares of NASDAQ MBIN opened at $53.50 on Thursday. The company has a market capitalization of $2.46 billion, a PE ratio of 10.74 and a beta of 1.14. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.32. The stock’s 50 day moving average price is $50.80 and its 200-day moving average price is $47.17. Merchants Bancorp has a twelve month low of $30.37 and a twelve month high of $56.87.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.26. The company had revenue of $182.22 million during the quarter, compared to the consensus estimate of $179.00 million. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%. On average, equities analysts anticipate that Merchants Bancorp will post 5.58 EPS for the current year.

Insider Transactions at Merchants Bancorp

In other news, Director Julia L. Kaercher sold 9,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $55.20, for a total transaction of $496,800.00. Following the completion of the sale, the director directly owned 727,103 shares of the company’s stock, valued at $40,136,085.60. This trade represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 44.90% of the stock is owned by company insiders.

Merchants Bancorp Profile

Merchants Bancorp (NASDAQ: MBIN) is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company’s primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.