Catalyst Capital Advisors LLC Buys Shares of 3,600 Merchants Bancorp (NASDAQ:MBIN)

Catalyst Capital Advisors LLC bought a new stake in shares of Merchants Bancorp (NASDAQ:MBIN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,600 shares of the company’s stock, valued at approximately $162,000.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Merchants Bancorp by 91.5% in the second quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock worth $10,721,000 after buying an additional 126,375 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Merchants Bancorp by 441.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company’s stock valued at $4,608,000 after purchasing an additional 87,012 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Merchants Bancorp during the 1st quarter valued at about $587,000. Allspring Global Investments Holdings LLC increased its stake in shares of Merchants Bancorp by 75.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 142,553 shares of the company’s stock valued at $5,779,000 after purchasing an additional 61,292 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Merchants Bancorp by 2.5% during the first quarter. Vanguard Group Inc. now owns 994,962 shares of the company’s stock valued at $42,962,000 after buying an additional 24,122 shares during the last quarter. Institutional investors own 24.57% of the company’s stock.

Analysts Set New Price Targets

MBIN has been the topic of several analyst reports. Morgan Stanley initiated coverage on Merchants Bancorp in a research report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 target price on the stock. Raymond James lowered their price target on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $48.00 price objective (down previously from $56.00) on shares of Merchants Bancorp in a report on Wednesday, October 30th.

Merchants Bancorp Stock Performance

MBIN opened at $37.01 on Wednesday. The business has a 50 day moving average price of $43.49 and a two-hundred day moving average price of $42.94. 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 company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 6.13 and a beta of 1.12. Merchants Bancorp has a 1-year low of $31.09 and a 1-year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.25). The firm had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. Merchants Bancorp had a net margin of 21.33% and a return on equity of 23.14%. During the same quarter last year, the company earned $1.68 EPS. Research analysts predict that Merchants Bancorp will post 5.77 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. Merchants Bancorp’s dividend payout ratio (DPR) is 5.96%.

Insider Transactions at Merchants Bancorp

In related news, CEO Michael F. Petrie sold 22,050 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the completion of the sale, the chief executive officer now directly owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Michael F. Petrie sold 22,050 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $999,747.00. Following the sale, the chief executive officer now directly owns 1,990,545 shares of the company’s stock, valued at $90,251,310.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of the stock in a transaction on 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 completion of the transaction, the insider now owns 748,000 shares of the company’s stock, valued at $32,912,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 39.70% of the company’s stock.

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.