Valeo Financial Advisors LLC Trims Position in Merchants Bancorp (NASDAQ:MBIN)

Valeo Financial Advisors LLC decreased its stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 218,537 shares of the company's stock after selling 16,913 shares during the period. Valeo Financial Advisors LLC owned approximately 0.50% of Merchants Bancorp worth $9,825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC raised its holdings in Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company's stock worth $58,000 after purchasing an additional 869 shares in the last quarter. nVerses Capital LLC lifted its position in Merchants Bancorp by 650.0% during the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company's stock valued at $61,000 after acquiring an additional 1,300 shares during the period. Point72 Asset Management L.P. boosted its stake in Merchants Bancorp by 54.3% during the second quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company's stock worth $163,000 after acquiring an additional 1,412 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Merchants Bancorp by 79.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company's stock worth $193,000 after purchasing an additional 2,101 shares during the period. Finally, Wellington Wealth Strategies LLC. bought a new position in shares of Merchants Bancorp during the first quarter valued at approximately $202,000. Hedge funds and other institutional investors own 24.57% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Raymond James downgraded Merchants Bancorp from a "strong-buy" rating to an "outperform" rating and upped their price target for the stock from $55.00 to $58.00 in a research note on Tuesday, July 30th. Morgan Stanley started coverage on Merchants Bancorp in a report on Monday, September 9th. They set an "equal weight" rating and a $54.00 price target for the company.

Insider Activity at Merchants Bancorp

In related news, CEO Michael R. Dury bought 5,200 shares of the business's stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $38.71 per share, with a total value of $201,292.00. Following the transaction, the chief executive officer now owns 93,793 shares in the company, valued at approximately $3,630,727.03. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Michael R. Dury bought 5,200 shares of the company's stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $38.71 per share, with a total value of $201,292.00. Following the completion of the transaction, the chief executive officer now owns 93,793 shares of the company's stock, valued at approximately $3,630,727.03. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of the business's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total value of $3,300,000.00. Following the sale, the insider now owns 748,000 shares of the company's stock, valued at approximately $32,912,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.70% of the stock is owned by insiders.

Merchants Bancorp Stock Up 0.3 %

Shares of MBIN traded up $0.14 on Friday, hitting $44.87. 138,270 shares of the stock traded hands, compared to its average volume of 176,641. The company has a market capitalization of $1.95 billion, a PE ratio of 7.04 and a beta of 1.09. Merchants Bancorp has a one year low of $25.78 and a one year high of $53.27. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.01. The business has a 50 day simple moving average of $43.76 and a 200 day simple moving average of $42.76.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last posted 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). Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. The business had revenue of $359.62 million during the quarter, compared to analysts' expectations of $160.70 million. During the same quarter in the prior year, the firm earned $1.31 EPS. As a group, equities analysts forecast that Merchants Bancorp will post 6.08 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.09 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. Merchants Bancorp's dividend payout ratio is presently 5.65%.

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.