Merchants Bancorp (NASDAQ:MBIN) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. lessened its stake in Merchants Bancorp (NASDAQ:MBIN) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,009 shares of the company’s stock after selling 309 shares during the period. Freedom Investment Management Inc.’s holdings in Merchants Bancorp were worth $225,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James & Associates increased its position in Merchants Bancorp by 0.8% in the 2nd quarter. Raymond James & Associates now owns 55,365 shares of the company’s stock valued at $2,244,000 after acquiring an additional 414 shares during the period. Victory Capital Management Inc. increased its position in Merchants Bancorp by 3.7% in the 3rd quarter. Victory Capital Management Inc. now owns 12,734 shares of the company’s stock valued at $573,000 after acquiring an additional 456 shares during the period. Harbor Capital Advisors Inc. increased its position in Merchants Bancorp by 9.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company’s stock valued at $240,000 after acquiring an additional 460 shares during the period. Sei Investments Co. increased its position in Merchants Bancorp by 10.3% in the 2nd quarter. Sei Investments Co. now owns 8,571 shares of the company’s stock valued at $347,000 after acquiring an additional 800 shares during the period. Finally, CWM LLC increased its position in Merchants Bancorp by 209.4% in the 3rd quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after acquiring an additional 869 shares during the period. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Transactions at Merchants Bancorp

In related news, Director Patrick D. O’brien bought 40,000 shares of Merchants Bancorp stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the purchase, the director now owns 40,000 shares in the company, valued at $1,000,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 39.70% of the company’s stock.

Merchants Bancorp Price Performance

Shares of MBIN opened at $41.28 on Monday. Merchants Bancorp has a twelve month low of $33.05 and a twelve month high of $53.27. The stock’s 50 day moving average is $42.03 and its two-hundred day moving average is $42.60. The firm has a market capitalization of $1.89 billion, a PE ratio of 6.83 and a beta of 1.12. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.25). The firm had revenue of $355.67 million for the quarter, compared to analysts’ expectations of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same period last year, the firm earned $1.68 EPS. Research analysts anticipate that Merchants Bancorp will post 5.74 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th. Merchants Bancorp’s dividend payout ratio (DPR) is 5.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MBIN shares. Raymond James lowered their price objective on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Morgan Stanley started coverage on Merchants Bancorp in a report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price objective on the stock. Finally, Piper Sandler lifted their price objective on Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, November 26th.

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.