JPMorgan Chase & Co. Cuts Stake in Merchants Bancorp (NASDAQ:MBIN)

JPMorgan Chase & Co. lessened its stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 55.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 224,428 shares of the company's stock after selling 276,696 shares during the period. JPMorgan Chase & Co. owned about 0.49% of Merchants Bancorp worth $10,090,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Merchants Bancorp by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company's stock valued at $41,465,000 after acquiring an additional 94,781 shares during the period. Geode Capital Management LLC grew its holdings in Merchants Bancorp by 3.0% during the third quarter. Geode Capital Management LLC now owns 566,520 shares of the company's stock valued at $25,476,000 after purchasing an additional 16,666 shares during the period. Royce & Associates LP increased its position 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 buying an additional 288,553 shares during the last quarter. State Street Corp raised its stake in shares of Merchants Bancorp by 4.7% in the third quarter. State Street Corp now owns 448,525 shares of the company's stock valued at $20,205,000 after buying an additional 20,214 shares during the period. Finally, Banc Funds Co. LLC lifted its position in shares of Merchants Bancorp by 3.3% during the 3rd quarter. Banc Funds Co. LLC now owns 389,615 shares of the company's stock valued at $17,517,000 after buying an additional 12,500 shares during the last quarter. Hedge funds and other institutional investors own 24.57% of the company's stock.

Insider Transactions at Merchants Bancorp

In related news, Director Patrick D. O'brien acquired 40,000 shares of the company's stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the acquisition, the director now owns 40,000 shares of the company's stock, valued at approximately $1,000,000. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 39.70% of the company's stock.

Merchants Bancorp Stock Performance

NASDAQ:MBIN opened at $34.49 on Monday. Merchants Bancorp has a 52-week low of $34.16 and a 52-week high of $53.27. The business's fifty day moving average is $38.44 and its 200 day moving average is $41.96. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 5.71 and a beta of 1.14.

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 (EPS) 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 analysts' expectations of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same period in the previous year, the company posted $1.68 earnings per share. Research analysts predict that Merchants Bancorp will post 5.74 EPS for the current year.

Merchants Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a dividend of $0.09 per share. The ex-dividend date was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.04%. Merchants Bancorp's dividend payout ratio (DPR) is currently 5.96%.

Analyst Ratings Changes

MBIN has been the subject of several recent research reports. Raymond James decreased their price objective on Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating for the company in a report on Tuesday, October 29th. Piper Sandler boosted their price target 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.

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.