Catalyst Capital Advisors LLC Trims Stock Position in Merchants Bancorp (NASDAQ:MBIN)

Catalyst Capital Advisors LLC cut its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 31.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,450 shares of the company’s stock after selling 1,150 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Merchants Bancorp were worth $89,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC increased its stake in Merchants Bancorp by 209.4% during the third quarter. CWM LLC now owns 1,284 shares of the company’s stock worth $58,000 after acquiring an additional 869 shares during the last quarter. Matrix Trust Co increased its stake in Merchants Bancorp by 730.8% during the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock worth $96,000 after acquiring an additional 2,324 shares during the last quarter. FMR LLC increased its stake in Merchants Bancorp by 214.5% during the third quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after acquiring an additional 2,699 shares during the last quarter. Hohimer Wealth Management LLC acquired a new stake in Merchants Bancorp during the third quarter worth about $202,000. Finally, Harbor Capital Advisors Inc. increased its stake in Merchants Bancorp by 9.4% during the third quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company’s stock worth $240,000 after acquiring an additional 460 shares during the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on MBIN shares. Piper Sandler upped their price target on Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Raymond James reiterated an “outperform” rating and issued a $53.00 target price (up previously from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th.

Insider Activity at Merchants Bancorp

In related news, insider Scott A. Evans sold 25,000 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total value of $1,077,500.00. Following the completion of the transaction, the insider now owns 27,606 shares of the company’s stock, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 39.70% of the stock is currently owned by company insiders.

Merchants Bancorp Price Performance

MBIN stock opened at $43.36 on Wednesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. Merchants Bancorp has a 1 year low of $34.16 and a 1 year high of $53.27. The firm has a market cap of $1.98 billion, a P/E ratio of 6.87 and a beta of 1.15. The stock has a 50-day simple moving average of $38.75 and a 200-day simple moving average of $41.14.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Monday, February 3rd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. On average, equities analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Company 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.