Millennium Management LLC Has $3.71 Million Position in Merchants Bancorp (NASDAQ:MBIN)

Millennium Management LLC increased its holdings in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 139.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,579 shares of the company's stock after acquiring an additional 53,401 shares during the period. Millennium Management LLC owned about 0.21% of Merchants Bancorp worth $3,713,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MBIN. AQR Capital Management LLC raised its stake in shares of Merchants Bancorp by 66.1% in the second quarter. AQR Capital Management LLC now owns 59,465 shares of the company's stock worth $2,411,000 after acquiring an additional 23,661 shares during the last quarter. Caxton Associates LP raised its stake in shares of Merchants Bancorp by 65.7% in the second quarter. Caxton Associates LP now owns 9,159 shares of the company's stock worth $371,000 after acquiring an additional 3,632 shares during the last quarter. Sandia Investment Management LP acquired a new stake in shares of Merchants Bancorp during the 2nd quarter worth approximately $203,000. Marshall Wace LLP grew its position in shares of Merchants Bancorp by 6,793.6% during the 2nd quarter. Marshall Wace LLP now owns 365,290 shares of the company's stock worth $14,809,000 after buying an additional 359,991 shares during the period. Finally, Sei Investments Co. grew its position in shares of Merchants Bancorp by 10.3% during the 2nd quarter. Sei Investments Co. now owns 8,571 shares of the company's stock worth $347,000 after buying an additional 800 shares during the period. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Stock Up 0.5 %

Shares of Merchants Bancorp stock traded up $0.24 on Monday, hitting $45.11. The company had a trading volume of 161,397 shares, compared to its average volume of 176,564. The firm has a market capitalization of $1.96 billion, a P/E ratio of 7.04 and a beta of 1.09. Merchants Bancorp has a twelve month low of $25.78 and a twelve month 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 stock has a 50-day moving average of $43.76 and a 200-day moving average of $42.78.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The company reported $1.49 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.08). The business had revenue of $359.62 million during the quarter, compared to the consensus estimate 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 firm earned $1.31 EPS. Research analysts predict that Merchants Bancorp will post 6.08 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

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

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, CEO Michael F. Petrie sold 22,050 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total value of $999,747.00. Following the completion of the sale, the chief executive officer now owns 1,990,545 shares in the company, valued at $90,251,310.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Merchants Bancorp news, CEO Michael R. Dury purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average cost of $44.82 per share, with a total value of $268,920.00. Following the completion of the transaction, the chief executive officer now owns 88,593 shares in the company, valued at $3,970,738.26. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Petrie sold 22,050 shares of the firm's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $999,747.00. Following the transaction, the chief executive officer now directly owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 39.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MBIN. Raymond James cut shares of Merchants Bancorp from a "strong-buy" rating to an "outperform" rating and lifted their price target for the stock from $55.00 to $58.00 in a research report on Tuesday, July 30th. Morgan Stanley assumed 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 for the company.

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.