UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in Merchants Bancorp (NASDAQ:MBIN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Merchants Bancorp (NASDAQ:MBIN) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,319 shares of the company’s stock after acquiring an additional 1,099 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Merchants Bancorp were worth $914,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. CWM LLC raised its stake in Merchants Bancorp by 209.4% during the third quarter. CWM LLC now owns 1,284 shares of the company’s stock worth $58,000 after purchasing an additional 869 shares during the period. nVerses Capital LLC increased its holdings in shares of Merchants Bancorp by 650.0% during the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock worth $61,000 after buying an additional 1,300 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Merchants Bancorp in the 3rd quarter worth $162,000. Point72 Asset Management L.P. boosted its holdings in Merchants Bancorp by 54.3% in the second quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock valued at $163,000 after acquiring an additional 1,412 shares during the last quarter. Finally, FMR LLC grew its position in Merchants Bancorp by 214.5% during the third quarter. FMR LLC now owns 3,957 shares of the company’s stock valued at $178,000 after acquiring an additional 2,699 shares during the period. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Merchants Bancorp Stock Down 2.3 %

Shares of NASDAQ MBIN opened at $36.50 on Thursday. The stock has a fifty day moving average price of $40.62 and a 200 day moving average price of $42.38. 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 has a 12-month low of $35.56 and a 12-month high of $53.27. The company has a market cap of $1.67 billion, a P/E ratio of 6.04 and a beta of 1.13.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results 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 company had revenue of $355.67 million during 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 in the previous year, the company earned $1.68 EPS. Research analysts anticipate that Merchants Bancorp will post 5.74 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Friday, December 13th. Merchants Bancorp’s dividend payout ratio (DPR) is 5.96%.

Insider Activity

In other Merchants Bancorp news, Director Patrick D. O’brien bought 40,000 shares of the stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $1,000,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 39.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MBIN. Piper Sandler upped their price target on Merchants Bancorp from $48.00 to $52.50 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Morgan Stanley assumed coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They set an “equal weight” rating and a $54.00 target price for the company. Finally, Raymond James reduced their price target on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th.

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.