Merchants Bancorp $MBIN Holdings Lifted by Sei Investments Co.

Sei Investments Co. increased its holdings in Merchants Bancorp (NASDAQ:MBIN) by 94.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,975 shares of the company’s stock after acquiring an additional 53,051 shares during the period. Sei Investments Co.’s holdings in Merchants Bancorp were worth $4,676,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MBIN. Millennium Management LLC boosted its holdings in shares of Merchants Bancorp by 135.6% during the third quarter. Millennium Management LLC now owns 365,075 shares of the company’s stock worth $11,609,000 after purchasing an additional 210,151 shares during the period. Two Sigma Investments LP lifted its position in Merchants Bancorp by 1,509.5% in the 3rd quarter. Two Sigma Investments LP now owns 175,754 shares of the company’s stock worth $5,589,000 after buying an additional 164,834 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Merchants Bancorp in the 1st quarter worth approximately $6,120,000. First Trust Advisors LP boosted its stake in shares of Merchants Bancorp by 458.7% during the 4th quarter. First Trust Advisors LP now owns 141,145 shares of the company’s stock valued at $4,807,000 after buying an additional 115,881 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Merchants Bancorp by 6.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,758,985 shares of the company’s stock valued at $75,476,000 after buying an additional 102,087 shares during the period. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Stock Performance

Shares of MBIN opened at $55.55 on Thursday. The company has a market capitalization of $2.55 billion, a PE ratio of 11.15 and a beta of 1.14. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.21 and a quick ratio of 0.89. Merchants Bancorp has a one year low of $29.75 and a one year high of $56.87. The company’s fifty day moving average price is $49.42 and its 200 day moving average price is $45.86.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.26. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%.The company had revenue of $182.22 million for the quarter, compared to the consensus estimate of $179.00 million. As a group, analysts expect that Merchants Bancorp will post 5.58 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were issued a dividend of $0.11 per share. The ex-dividend date was Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. Merchants Bancorp’s payout ratio is 8.84%.

Insider Buying and Selling at Merchants Bancorp

In other news, Director Julia L. Kaercher sold 9,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $55.20, for a total value of $496,800.00. Following the completion of the sale, the director directly owned 727,103 shares of the company’s stock, valued at approximately $40,136,085.60. This represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 44.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MBIN. Piper Sandler reiterated an “overweight” rating and set a $64.00 price objective on shares of Merchants Bancorp in a report on Wednesday, July 29th. Morgan Stanley reaffirmed a “positive” rating and set a $49.00 price target (up from $46.00) on shares of Merchants Bancorp in a research note on Monday, June 29th. Raymond James Financial downgraded Merchants Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Zacks Research upgraded shares of Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Merchants Bancorp in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $51.50.

Merchants Bancorp Company Profile

Merchants Bancorp (NASDAQ: MBIN) is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company’s primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.