Capstone Investment Advisors LLC Buys Shares of 19,018 Merchants Bancorp $MBIN

Capstone Investment Advisors LLC purchased a new stake in shares of Merchants Bancorp (NASDAQ:MBIN) during the second quarter, Holdings Channel.com reports. The fund purchased 19,018 shares of the company’s stock, valued at approximately $951,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Merchants Bancorp in the 2nd quarter valued at about $205,260,000. Basswood Capital Management L.L.C. bought a new position in Merchants Bancorp during the second quarter worth about $13,687,000. Bank of New York Mellon Corp bought a new position in Merchants Bancorp during the second quarter worth about $11,719,000. Millennium Management LLC increased 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 worth $11,609,000 after purchasing an additional 210,151 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Merchants Bancorp by 1,509.5% in the third quarter. Two Sigma Investments LP now owns 175,754 shares of the company’s stock valued at $5,589,000 after purchasing an additional 164,834 shares during the period. Institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Price Performance

Shares of NASDAQ:MBIN opened at $53.26 on Friday. The company has a 50 day moving average of $51.33 and a 200 day moving average of $47.66. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32. The stock has a market cap of $2.45 billion, a P/E ratio of 10.69 and a beta of 1.14. Merchants Bancorp has a 12 month low of $30.37 and a 12 month high of $56.87.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Tuesday, July 28th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.26. Merchants Bancorp had a net margin of 19.80% and a return on equity of 15.29%. The business had revenue of $182.22 million for the quarter, compared to analysts’ expectations of $179.00 million. As a group, sell-side analysts forecast that Merchants Bancorp will post 5.58 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Merchants Bancorp’s dividend payout ratio (DPR) is 8.84%.

Insider Transactions at Merchants Bancorp

In related news, Director Julia L. Kaercher sold 9,000 shares of the business’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 completion of the transaction, the director directly owned 727,103 shares in the company, valued at $40,136,085.60. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 44.90% of the company’s stock.

Analyst Ratings Changes

MBIN has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and set a $64.00 price target on shares of Merchants Bancorp in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Merchants Bancorp in a research note on Friday, July 31st. Morgan Stanley reissued a “positive” rating and set a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a report on Monday, June 29th. Raymond James Financial downgraded Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Finally, Zacks Research upgraded Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target 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.