Jacobs Levy Equity Management Inc. Reduces Position in Merchants Bancorp (NASDAQ:MBIN)

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 22.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,484 shares of the company's stock after selling 30,938 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.23% of Merchants Bancorp worth $4,788,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP grew its holdings in Merchants Bancorp by 6,793.6% in 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 during the period. Royce & Associates LP grew 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 worth $22,039,000 after acquiring an additional 288,553 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Merchants Bancorp by 91.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company's stock worth $10,721,000 after acquiring an additional 126,375 shares in the last quarter. Ovata Capital Management Ltd purchased a new position in Merchants Bancorp during the second quarter worth about $4,054,000. Finally, Dimensional Fund Advisors LP grew 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 in the last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley started coverage on Merchants Bancorp in a research note on Monday, September 9th. They issued an "equal weight" rating and a $54.00 target price on the stock. Piper Sandler raised their target price on Merchants Bancorp from $48.00 to $52.50 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Finally, 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.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, Director Patrick D. O'brien acquired 40,000 shares of the company's stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the acquisition, the director now owns 40,000 shares in the company, valued at $1,000,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 39.70% of the stock is currently owned by corporate insiders.

Merchants Bancorp Stock Performance

Shares of NASDAQ:MBIN traded down $0.68 during midday trading on Friday, reaching $39.00. 129,780 shares of the company traded hands, compared to its average volume of 147,278. Merchants Bancorp has a 12 month low of $34.82 and a 12 month high of $53.27. The firm's fifty day moving average price is $41.57 and its two-hundred day moving average price is $42.51. 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 firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 6.46 and a beta of 1.13.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last posted its earnings results on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. The business had revenue of $355.67 million for the quarter, compared to analysts' expectations of $156.13 million. During the same quarter in the previous year, the firm earned $1.68 earnings per share. On average, equities analysts expect that Merchants Bancorp will post 5.74 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 13th. Merchants Bancorp's dividend payout ratio is presently 5.96%.

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.