Quest Partners LLC Sells 5,437 Shares of Merchants Bancorp (NASDAQ:MBIN)

Quest Partners LLC cut its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 54.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,476 shares of the company’s stock after selling 5,437 shares during the period. Quest Partners LLC’s holdings in Merchants Bancorp were worth $201,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Merchants Bancorp by 2.5% in the first quarter. Vanguard Group Inc. now owns 994,962 shares of the company’s stock valued at $42,962,000 after acquiring an additional 24,122 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Merchants Bancorp by 446.3% in the 1st quarter. Lazard Asset Management LLC now owns 6,665 shares of the company’s stock valued at $287,000 after purchasing an additional 5,445 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Merchants Bancorp during the first quarter worth about $202,000. Public Employees Retirement System of Ohio acquired a new position in Merchants Bancorp during the first quarter worth approximately $587,000. Finally, Jacobs Levy Equity Management Inc. increased its position in Merchants Bancorp by 441.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company’s stock worth $4,608,000 after buying an additional 87,012 shares during the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Trading Down 0.8 %

Shares of NASDAQ:MBIN opened at $41.33 on Thursday. The stock has a market cap of $1.89 billion, a PE ratio of 6.84 and a beta of 1.12. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. Merchants Bancorp has a 12-month low of $32.52 and a 12-month high of $53.27. The business has a 50 day moving average of $42.23 and a 200-day moving average of $42.66.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates 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 22.36%. During the same period in the prior year, the company earned $1.68 earnings per share. As a group, equities research analysts forecast that Merchants Bancorp will post 5.77 earnings per share for the current year.

Merchants Bancorp Announces Dividend

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MBIN. Raymond James reduced their target price on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Piper Sandler lifted their price objective on shares of Merchants Bancorp from $48.00 to $52.50 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Morgan Stanley assumed coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price objective on the stock.

About Merchants Bancorp

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.