Los Angeles Capital Management LLC Sells 22,410 Shares of Merchants Bancorp (NASDAQ:MBIN)

Los Angeles Capital Management LLC lessened its position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 80.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,512 shares of the company's stock after selling 22,410 shares during the period. Los Angeles Capital Management LLC's holdings in Merchants Bancorp were worth $248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James & Associates boosted its holdings in shares of Merchants Bancorp by 0.8% in the 2nd quarter. Raymond James & Associates now owns 55,365 shares of the company's stock worth $2,244,000 after buying an additional 414 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Merchants Bancorp by 9.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company's stock valued at $240,000 after purchasing an additional 460 shares during the last quarter. Sei Investments Co. boosted its stake in Merchants Bancorp by 10.3% in the second quarter. Sei Investments Co. now owns 8,571 shares of the company's stock worth $347,000 after buying an additional 800 shares in the last quarter. CWM LLC boosted its stake in shares of Merchants Bancorp by 209.4% in the 3rd quarter. CWM LLC now owns 1,284 shares of the company's stock valued at $58,000 after purchasing an additional 869 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in Merchants Bancorp by 11.7% in the second quarter. Quest Partners LLC now owns 9,913 shares of the company's stock worth $402,000 after purchasing an additional 1,039 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.

Insider Activity at Merchants Bancorp

In other news, CEO Michael F. Petrie sold 22,050 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the transaction, the chief executive officer now directly owns 1,990,545 shares in the company, valued at $90,251,310.30. This trade represents a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the transaction, the insider now owns 748,000 shares of the company's stock, valued at approximately $32,912,000. This represents a 9.11 % decrease in their position. The disclosure for this sale can be found here. 39.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on MBIN shares. Piper Sandler restated an "overweight" rating and set a $48.00 price objective (down from $56.00) on shares of Merchants Bancorp in a research report on Wednesday, October 30th. Morgan Stanley began 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 on the stock. Finally, Raymond James lowered their target price on Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday, October 29th.

Merchants Bancorp Stock Down 1.0 %

NASDAQ:MBIN traded down $0.38 during trading hours on Tuesday, hitting $39.13. The stock had a trading volume of 101,501 shares, compared to its average volume of 179,643. Merchants Bancorp has a 1-year low of $32.52 and a 1-year high of $53.27. The company has a market cap of $1.79 billion, a PE ratio of 6.64 and a beta of 1.12. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The business has a 50 day simple moving average of $42.74 and a two-hundred day simple moving average of $42.95.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The business had revenue of $355.67 million during the quarter, compared to the consensus estimate of $156.13 million. During the same quarter in the previous year, the firm posted $1.68 EPS. Analysts predict that Merchants Bancorp will post 5.77 EPS for the current year.

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.