Merchants Bancorp $MBIN Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 6.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,758,985 shares of the company’s stock after purchasing an additional 102,087 shares during the period. Dimensional Fund Advisors LP’s holdings in Merchants Bancorp were worth $75,476,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MBIN. Vanguard Group Inc. lifted its stake in Merchants Bancorp by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 1,414,584 shares of the company’s stock worth $48,181,000 after purchasing an additional 36,184 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Merchants Bancorp by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 715,394 shares of the company’s stock worth $24,371,000 after buying an additional 18,925 shares during the period. State Street Corp grew its stake in shares of Merchants Bancorp by 4.7% in the fourth quarter. State Street Corp now owns 574,086 shares of the company’s stock valued at $19,609,000 after buying an additional 25,823 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Merchants Bancorp by 7.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 389,878 shares of the company’s stock valued at $12,398,000 after buying an additional 27,358 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Merchants Bancorp by 135.6% in the third quarter. Millennium Management LLC now owns 365,075 shares of the company’s stock valued at $11,609,000 after buying an additional 210,151 shares in the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Stock Performance

NASDAQ:MBIN opened at $55.18 on Friday. The company has a fifty day simple moving average of $48.87 and a two-hundred day simple moving average of $45.35. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 11.08 and a beta of 1.14. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.32. Merchants Bancorp has a 52 week low of $28.75 and a 52 week high of $56.87.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.26. The business had revenue of $182.22 million for the quarter, compared to analysts’ expectations of $179.00 million. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%. As a group, equities analysts anticipate that Merchants Bancorp will post 5.43 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a dividend of $0.11 per share. The ex-dividend date was Monday, June 15th. This represents a $0.44 annualized dividend and a yield of 0.8%. Merchants Bancorp’s dividend payout ratio is 8.84%.

Insiders Place Their Bets

In other Merchants Bancorp news, Director Julia L. Kaercher sold 9,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $55.20, for a total transaction of $496,800.00. Following the sale, 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 this link. 44.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MBIN shares. Weiss Ratings raised Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Morgan Stanley reaffirmed a “positive” rating and issued a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a research report on Monday, June 29th. Raymond James Financial lowered shares of Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Piper Sandler reissued an “overweight” rating and set a $64.00 price target on shares of Merchants Bancorp in a research report on Wednesday. Finally, Zacks Research cut shares of Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

Merchants Bancorp 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.