Denali Advisors LLC Increases Holdings in Merchants Bancorp $MBIN

Denali Advisors LLC boosted its position in Merchants Bancorp (NASDAQ:MBIN) by 19.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 239,414 shares of the company’s stock after purchasing an additional 38,904 shares during the period. Merchants Bancorp comprises approximately 0.9% of Denali Advisors LLC’s investment portfolio, making the stock its 24th largest position. Denali Advisors LLC’s holdings in Merchants Bancorp were worth $7,613,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MBIN. Royal Bank of Canada grew its holdings in shares of Merchants Bancorp by 1.0% during the 1st quarter. Royal Bank of Canada now owns 220,170 shares of the company’s stock valued at $8,146,000 after purchasing an additional 2,101 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Merchants Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock valued at $397,000 after buying an additional 449 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Merchants Bancorp by 60.3% in the first quarter. Jane Street Group LLC now owns 32,874 shares of the company’s stock worth $1,216,000 after buying an additional 12,361 shares during the period. CWM LLC increased its holdings in shares of Merchants Bancorp by 121.6% in the second quarter. CWM LLC now owns 3,010 shares of the company’s stock worth $100,000 after buying an additional 1,652 shares during the period. Finally, AlphaQuest LLC lifted its stake in shares of Merchants Bancorp by 278.6% in the 2nd quarter. AlphaQuest LLC now owns 11,234 shares of the company’s stock valued at $372,000 after acquiring an additional 8,267 shares during the last quarter. 24.57% of the stock is owned by hedge funds and other institutional investors.

Merchants Bancorp Price Performance

MBIN stock opened at $47.63 on Monday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.10 and a quick ratio of 0.80. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $48.26. The firm has a 50-day moving average of $37.15 and a 200 day moving average of $33.82. The company has a market cap of $2.19 billion, a P/E ratio of 12.60 and a beta of 1.27.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.34. Merchants Bancorp had a return on equity of 13.35% and a net margin of 16.02%.The business had revenue of $193.49 million for the quarter, compared to analysts’ expectations of $170.80 million. On average, sell-side analysts forecast that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were issued a $0.10 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. Merchants Bancorp’s dividend payout ratio is 10.58%.

Merchants Bancorp announced that its Board of Directors has approved a share repurchase program on Wednesday, January 28th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MBIN shares. Zacks Research raised Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. UBS Group set a $42.00 price target on shares of Merchants Bancorp in a report on Thursday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $42.00 price target (up previously from $41.00) on shares of Merchants Bancorp in a report on Thursday, October 30th. Wall Street Zen upgraded shares of Merchants Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Morgan Stanley increased their target price on shares of Merchants Bancorp from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.00.

Insider Buying and Selling

In related news, insider Martin A. Schroeter sold 5,500 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $46.06, for a total value of $253,330.00. Following the completion of the transaction, the insider directly owned 10,881 shares in the company, valued at $501,178.86. This trade represents a 33.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 34.80% of the company’s stock.

Merchants Bancorp Company 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.