Foundry Partners LLC Takes $3.48 Million Position in Merchants Bancorp (NASDAQ:MBIN)

Foundry Partners LLC acquired a new position in Merchants Bancorp (NASDAQ:MBIN - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 77,329 shares of the company's stock, valued at approximately $3,477,000. Foundry Partners LLC owned approximately 0.17% of Merchants Bancorp as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC raised its holdings in shares of Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company's stock worth $58,000 after buying an additional 869 shares during the last quarter. nVerses Capital LLC increased its stake 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 buying an additional 1,300 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Merchants Bancorp during the third quarter worth approximately $162,000. Point72 Asset Management L.P. grew its holdings in shares of Merchants Bancorp by 54.3% during the second 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Merchants Bancorp by 79.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company's stock valued at $193,000 after acquiring an additional 2,101 shares during the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Merchants Bancorp Price Performance

Shares of NASDAQ:MBIN traded up $1.69 on Friday, reaching $41.09. 150,640 shares of the company were exchanged, compared to its average volume of 180,675. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. Merchants Bancorp has a 1-year low of $32.52 and a 1-year high of $53.27. The company has a 50-day moving average of $42.52 and a 200-day moving average of $42.85. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 6.52 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.42 by ($0.25). The firm had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same quarter in the prior year, the company earned $1.68 EPS. Equities analysts forecast that Merchants Bancorp will post 5.77 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, December 13th. Merchants Bancorp's dividend payout ratio (DPR) is presently 5.96%.

Insider Buying and Selling

In related news, Director Patrick D. O'brien acquired 40,000 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the transaction, the director now owns 40,000 shares in the company, valued at $1,000,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael F. Petrie sold 22,050 shares of the firm's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $999,747.00. Following the sale, the chief executive officer now directly owns 1,990,545 shares in the company, valued at $90,251,310.30. This represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 39.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on MBIN. Morgan Stanley assumed coverage on Merchants Bancorp in a research report on Monday, September 9th. They issued an "equal weight" rating and a $54.00 target price on the stock. Raymond James cut their price target on Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, October 29th. Finally, Piper Sandler restated an "overweight" rating and issued a $48.00 price objective (down from $56.00) on shares of Merchants Bancorp in a report on Wednesday, October 30th.

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.