BlackRock Inc. Takes $205.26 Million Position in Merchants Bancorp $MBIN

BlackRock Inc. acquired a new position in shares of Merchants Bancorp (NASDAQ:MBIN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,105,193 shares of the company’s stock, valued at approximately $205,260,000. BlackRock Inc. owned about 0.09% of Merchants Bancorp as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in shares of Merchants Bancorp by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock valued at $73,000 after purchasing an additional 1,153 shares during the period. Gamco Investors INC. ET AL bought a new position in Merchants Bancorp in the first quarter worth $215,000. Fifth Third Bancorp bought a new position in Merchants Bancorp in the first quarter worth $270,000. Oregon Public Employees Retirement Fund acquired a new stake in Merchants Bancorp during the first quarter worth $287,000. Finally, Brevan Howard Capital Management LP boosted its stake in Merchants Bancorp by 16.7% during the second quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company’s stock worth $228,000 after buying an additional 984 shares in the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Merchants Bancorp news, Director Julia L. Kaercher sold 9,000 shares of the company’s stock in a transaction 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 transaction, the director owned 727,103 shares in the company, valued at $40,136,085.60. This represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 44.90% of the stock is currently owned by insiders.

Merchants Bancorp Trading Down 0.4%

NASDAQ MBIN opened at $53.26 on Friday. The company has a market cap of $2.45 billion, a PE ratio of 10.69 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32. The stock has a 50 day moving average of $51.33 and a 200-day moving average of $47.66. Merchants Bancorp has a 12 month low of $30.37 and a 12 month high of $56.87.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.26. The firm had revenue of $182.22 million for the quarter, compared to analyst estimates of $179.00 million. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%. On average, equities research analysts anticipate that Merchants Bancorp will post 5.58 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Merchants Bancorp’s dividend payout ratio (DPR) is 8.84%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MBIN shares. Morgan Stanley reissued a “positive” rating and issued a $49.00 price target (up from $46.00) on shares of Merchants Bancorp in a research report on Monday, June 29th. Zacks Research raised Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Merchants Bancorp in a research note on Friday, July 31st. Raymond James Financial cut Merchants Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Finally, Piper Sandler restated an “overweight” rating and set a $64.00 target price on shares of Merchants Bancorp in a research report on Wednesday, July 29th. One 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 has an average rating of “Buy” and an average 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.