Sapient Capital LLC Decreases Holdings in Merchants Bancorp $MBIN

Sapient Capital LLC reduced its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 19.9% during the 1st quarter, HoldingsChannel reports. The fund owned 60,521 shares of the company’s stock after selling 15,000 shares during the period. Sapient Capital LLC’s holdings in Merchants Bancorp were worth $2,605,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MBIN. Curry Webb Wealth Management LLC bought a new position in shares of Merchants Bancorp during the 1st quarter valued at approximately $604,000. Bank of America Corp DE increased its position in Merchants Bancorp by 66.8% during the first quarter. Bank of America Corp DE now owns 106,357 shares of the company’s stock valued at $4,564,000 after acquiring an additional 42,582 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Merchants Bancorp by 3.3% in the first quarter. Royal Bank of Canada now owns 212,852 shares of the company’s stock valued at $9,134,000 after acquiring an additional 6,899 shares during the period. Quantinno Capital Management LP raised its stake in shares of Merchants Bancorp by 2.4% in the first quarter. Quantinno Capital Management LP now owns 34,926 shares of the company’s stock valued at $1,499,000 after acquiring an additional 804 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Merchants Bancorp by 8.4% in the 1st quarter. Renaissance Technologies LLC now owns 49,089 shares of the company’s stock worth $2,106,000 after acquiring an additional 3,789 shares during the last quarter. 24.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Merchants Bancorp Trading Up 1.0%

NASDAQ MBIN opened at $55.72 on Tuesday. The stock has a market cap of $2.56 billion, a PE ratio of 11.19 and a beta of 1.14. Merchants Bancorp has a 12 month low of $29.20 and a 12 month high of $56.87. The company’s 50-day moving average price is $49.06 and its 200-day moving average price is $45.57. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.26. Merchants Bancorp had a net margin of 19.80% and a return on equity of 15.29%. The company had revenue of $182.22 million during the quarter, compared to analyst estimates of $179.00 million. Equities research analysts forecast that Merchants Bancorp will post 5.58 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The company also recently disclosed 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. This represents a $0.44 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, June 15th. Merchants Bancorp’s dividend payout ratio (DPR) is presently 8.84%.

Insiders Place Their Bets

In other Merchants Bancorp news, Director Julia L. Kaercher sold 9,000 shares of Merchants Bancorp stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $55.20, for a total transaction of $496,800.00. Following the completion of the sale, the director directly owned 727,103 shares of the company’s stock, valued at $40,136,085.60. The trade was a 1.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 44.90% of the stock is currently owned by company insiders.

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.