Charles Schwab Investment Management Inc. Trims Stake in Merchants Bancorp (NASDAQ:MBIN)

Charles Schwab Investment Management Inc. trimmed its holdings in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 233,482 shares of the company's stock after selling 22,574 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.51% of Merchants Bancorp worth $10,497,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in Merchants Bancorp by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company's stock valued at $41,465,000 after buying an additional 94,781 shares during the period. Royce & Associates LP increased its stake in shares of Merchants Bancorp by 143.1% in the 3rd quarter. Royce & Associates LP now owns 490,189 shares of the company's stock valued at $22,039,000 after purchasing an additional 288,553 shares in the last quarter. American Century Companies Inc. raised its holdings in Merchants Bancorp by 23.0% in 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. Marshall Wace LLP boosted its position in Merchants Bancorp by 6,793.6% during the second quarter. Marshall Wace LLP now owns 365,290 shares of the company's stock worth $14,809,000 after purchasing an additional 359,991 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Merchants Bancorp by 91.5% in the second quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company's stock valued at $10,721,000 after buying an additional 126,375 shares in the last quarter. 24.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Merchants Bancorp

In other news, Director Patrick D. O'brien acquired 40,000 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was purchased 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 owns 40,000 shares in the company, valued at approximately $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 39.70% of the company's stock.

Merchants Bancorp Price Performance

NASDAQ MBIN traded up $0.50 during mid-day trading on Tuesday, hitting $38.95. The stock had a trading volume of 51,511 shares, compared to its average volume of 176,838. The firm's 50 day moving average is $41.44 and its 200 day moving average is $42.50. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 6.37 and a beta of 1.13. Merchants Bancorp has a twelve month low of $35.56 and a twelve month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its earnings results on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.42 by ($0.25). The business had revenue of $355.67 million during the quarter, compared to analyst estimates 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 last year, the company earned $1.68 earnings per share. Equities research analysts forecast that Merchants Bancorp will post 5.74 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.92%. Merchants Bancorp's dividend payout ratio (DPR) is presently 5.96%.

Analysts Set New Price Targets

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

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.