Merchants Bancorp (NASDAQ:MBIN) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC reduced its holdings in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 42.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,467 shares of the company's stock after selling 29,652 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.09% of Merchants Bancorp worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Raymond James & Associates grew its stake 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 valued at $2,244,000 after buying an additional 414 shares during the period. Denali Advisors LLC increased its stake in Merchants Bancorp by 0.8% during the first quarter. Denali Advisors LLC now owns 81,313 shares of the company's stock worth $3,511,000 after acquiring an additional 680 shares during the last quarter. Sei Investments Co. raised its position in Merchants Bancorp by 10.3% in the second quarter. Sei Investments Co. now owns 8,571 shares of the company's stock valued at $347,000 after purchasing an additional 800 shares during the period. Quest Partners LLC lifted its stake in shares of Merchants Bancorp by 11.7% in the 2nd quarter. Quest Partners LLC now owns 9,913 shares of the company's stock valued at $402,000 after purchasing an additional 1,039 shares during the last quarter. Finally, Twelve Points Wealth Management LLC lifted its stake in shares of Merchants Bancorp by 3.8% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 32,846 shares of the company's stock valued at $1,332,000 after purchasing an additional 1,195 shares during the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Trading Down 1.1 %

Shares of MBIN stock traded down $0.49 on Wednesday, hitting $43.18. The stock had a trading volume of 44,781 shares, compared to its average volume of 179,980. The company's 50 day moving average price is $44.30 and its 200-day moving average price is $42.63. Merchants Bancorp has a 1 year low of $25.78 and a 1 year high of $53.27. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 0.78. The firm has a market capitalization of $1.87 billion, a P/E ratio of 6.86 and a beta of 1.10.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings results on Monday, July 29th. The company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.08). The business had revenue of $359.62 million for the quarter, compared to analyst estimates 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 prior year, the company posted $1.31 EPS. Analysts anticipate that Merchants Bancorp will post 6.09 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.09 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.36 annualized dividend and a yield of 0.83%. Merchants Bancorp's dividend payout ratio is presently 5.65%.

Wall Street Analyst Weigh In

MBIN has been the topic of a number of recent analyst reports. Morgan Stanley began coverage on shares of 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 lowered shares of Merchants Bancorp from a "strong-buy" rating to an "outperform" rating and upped their price objective for the stock from $55.00 to $58.00 in a report on Tuesday, July 30th.

Insiders Place Their Bets

In other news, CEO Michael F. Petrie sold 22,050 shares of the 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 directly owns 1,990,545 shares in the company, valued at $90,251,310.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael R. Dury purchased 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The stock was bought at an average price of $44.82 per share, for a total transaction of $268,920.00. Following the completion of the purchase, the chief executive officer now directly owns 88,593 shares of the company's stock, valued at $3,970,738.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael F. Petrie sold 22,050 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the completion of the sale, the chief executive officer now directly owns 1,990,545 shares in the company, valued at $90,251,310.30. The disclosure for this sale can be found here. Insiders own 39.70% of the company's stock.

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.