Siena Capital Partners GP LLC Buys Shares of 18,290 Merchants Bancorp (NASDAQ:MBIN)

Siena Capital Partners GP LLC purchased a new stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,290 shares of the company's stock, valued at approximately $822,000.

Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Merchants Bancorp by 10.2% in 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. boosted its holdings in shares of Merchants Bancorp by 2.5% in the first quarter. Vanguard Group Inc. now owns 994,962 shares of the company's stock valued at $42,962,000 after purchasing an additional 24,122 shares during the period. Royce & Associates LP grew its stake in Merchants Bancorp by 143.1% in the third quarter. Royce & Associates LP now owns 490,189 shares of the company's stock worth $22,039,000 after purchasing an additional 288,553 shares in the last quarter. American Century Companies Inc. increased its holdings in Merchants Bancorp by 23.0% during the 2nd quarter. American Century Companies Inc. now owns 370,257 shares of the company's stock worth $15,010,000 after purchasing an additional 69,133 shares during the period. Finally, Marshall Wace LLP raised its position in Merchants Bancorp by 6,793.6% during the 2nd quarter. Marshall Wace LLP now owns 365,290 shares of the company's stock valued at $14,809,000 after purchasing an additional 359,991 shares in the last quarter. Hedge funds and other institutional investors own 24.57% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Raymond James dropped their price target on Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 29th. Morgan Stanley initiated coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They set an "equal weight" rating and a $54.00 target price on the stock. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $48.00 price target (down previously from $56.00) on shares of Merchants Bancorp in a research report on Wednesday, October 30th.

Merchants Bancorp Stock Up 4.3 %

Shares of Merchants Bancorp stock traded up $1.69 on Friday, reaching $41.09. The stock had a trading volume of 150,640 shares, compared to its average volume of 180,675. The stock has a market capitalization of $1.88 billion, a P/E ratio of 6.52 and a beta of 1.12. Merchants Bancorp has a 1 year low of $32.52 and a 1 year high of $53.27. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. The company has a 50 day moving average price of $42.52 and a 200 day moving average price of $42.85.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.25). The business had revenue of $355.67 million for the quarter, compared to analysts' expectations of $156.13 million. Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. During the same quarter in the prior year, the company posted $1.68 EPS. As a group, equities research analysts forecast that Merchants Bancorp will post 5.77 EPS for the current year.

Merchants Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, December 13th. Merchants Bancorp's payout ratio is 5.96%.

Insiders Place Their Bets

In other Merchants Bancorp news, CEO Michael F. Petrie sold 22,050 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the sale, the chief executive officer now owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. This represents a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Patrick D. O'brien acquired 40,000 shares of the business's stock in a transaction on Monday, November 18th. The stock was purchased at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the acquisition, the director now directly owns 40,000 shares of the company's stock, valued at $1,000,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 39.70% of the stock is owned by insiders.

Merchants Bancorp 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.