Merchants Bancorp (NASDAQ:MBIN) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its position in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 10.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,022,893 shares of the company's stock after purchasing an additional 94,781 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.36% of Merchants Bancorp worth $41,465,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Merchants Bancorp by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 994,962 shares of the company's stock valued at $42,962,000 after purchasing an additional 24,122 shares during the period. Banc Funds Co. LLC lifted its position in Merchants Bancorp by 3.5% during the 4th quarter. Banc Funds Co. LLC now owns 527,700 shares of the company's stock worth $22,469,000 after acquiring an additional 18,000 shares during the period. American Century Companies Inc. lifted its position in Merchants Bancorp by 23.0% during the 2nd quarter. American Century Companies Inc. now owns 370,257 shares of the company's stock worth $15,010,000 after acquiring an additional 69,133 shares during the period. Assenagon Asset Management S.A. lifted its position in Merchants Bancorp by 91.5% during 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 during the period. Finally, PL Capital Advisors LLC lifted its position in Merchants Bancorp by 2.7% during the 2nd quarter. PL Capital Advisors LLC now owns 188,294 shares of the company's stock worth $7,633,000 after acquiring an additional 5,000 shares during the period. 24.57% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Merchants Bancorp 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 transaction of $999,747.00. Following the completion of the transaction, the chief executive officer now owns 1,990,545 shares of the company's stock, valued at $90,251,310.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Merchants Bancorp news, CEO Michael R. Dury acquired 5,200 shares of the firm's stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $38.71 per share, for a total transaction of $201,292.00. Following the completion of the acquisition, the chief executive officer now directly owns 93,793 shares of the company's stock, valued at $3,630,727.03. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the chief executive officer now owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. The disclosure for this sale can be found here. 39.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MBIN has been the subject of a number of recent research reports. Raymond James cut Merchants Bancorp from a "strong-buy" rating to an "outperform" rating and increased their price objective for the stock from $55.00 to $58.00 in a research report on Tuesday, July 30th. Morgan Stanley initiated coverage on Merchants Bancorp in a report on Monday, September 9th. They issued an "equal weight" rating and a $54.00 price target for the company.

Merchants Bancorp Price Performance

NASDAQ MBIN traded down $1.29 during mid-day trading on Tuesday, hitting $43.67. The stock had a trading volume of 88,686 shares, compared to its average volume of 180,695. Merchants Bancorp has a 52-week low of $25.78 and a 52-week high of $53.27. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 7.06 and a beta of 1.10. The company has a 50 day simple moving average of $44.44 and a 200 day simple moving average of $42.61. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.81.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its quarterly earnings results on Monday, July 29th. The company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.08). The company had revenue of $359.62 million for the quarter, compared to analysts' expectations of $160.70 million. Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. During the same period in the previous year, the business posted $1.31 EPS. Equities analysts forecast that Merchants Bancorp will post 6.09 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, September 13th. Merchants Bancorp's payout ratio is 5.65%.

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.