Banc Funds Co. LLC Grows Position in Merchants Bancorp (NASDAQ:MBIN)

Banc Funds Co. LLC grew its position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 3.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 389,615 shares of the company's stock after acquiring an additional 12,500 shares during the quarter. Merchants Bancorp accounts for approximately 1.9% of Banc Funds Co. LLC's portfolio, making the stock its 13th largest holding. Banc Funds Co. LLC owned about 0.85% of Merchants Bancorp worth $17,517,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC boosted its holdings in Merchants Bancorp by 209.4% during the 3rd quarter. CWM LLC now owns 1,284 shares of the company's stock worth $58,000 after acquiring an additional 869 shares during the last quarter. nVerses Capital LLC boosted its holdings in Merchants Bancorp by 650.0% during the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company's stock worth $61,000 after acquiring an additional 1,300 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Merchants Bancorp during the 3rd quarter worth $162,000. FMR LLC boosted its holdings in shares of Merchants Bancorp by 214.5% in the 3rd quarter. FMR LLC now owns 3,957 shares of the company's stock worth $178,000 after buying an additional 2,699 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Merchants Bancorp by 54.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company's stock worth $163,000 after buying an additional 1,412 shares during the last quarter. 24.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MBIN shares. Morgan Stanley started coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They issued an "equal weight" rating and a $54.00 price target on the stock. Piper Sandler boosted their price target on shares of Merchants Bancorp from $48.00 to $52.50 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Finally, Raymond James cut their price target on shares of Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, October 29th.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, Director Patrick D. O'brien purchased 40,000 shares of Merchants Bancorp stock in a transaction on Monday, November 18th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company's stock, valued at approximately $1,000,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 39.70% of the company's stock.

Merchants Bancorp Stock Performance

NASDAQ MBIN traded up $0.15 during trading on Monday, hitting $41.43. 34,716 shares of the company's stock traded hands, compared to its average volume of 178,644. The business has a 50 day moving average of $42.03 and a 200-day moving average of $42.60. Merchants Bancorp has a 12-month low of $33.69 and a 12-month high of $53.27. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 6.83 and a beta of 1.12. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.25). The company had revenue of $355.67 million for the quarter, compared to the consensus estimate 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 earned $1.68 earnings per share. As a group, equities research analysts anticipate that Merchants Bancorp will post 5.74 earnings per share for the current fiscal 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 given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, December 13th. Merchants Bancorp's payout ratio is currently 5.96%.

About Merchants Bancorp

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.