AlphaQuest LLC Has $372,000 Holdings in Merchants Bancorp $MBIN

AlphaQuest LLC lifted its stake in Merchants Bancorp (NASDAQ:MBIN) by 278.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,234 shares of the company’s stock after buying an additional 8,267 shares during the period. AlphaQuest LLC’s holdings in Merchants Bancorp were worth $372,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Matrix Trust Co raised its holdings in shares of Merchants Bancorp by 10.3% in the 2nd quarter. Matrix Trust Co now owns 4,226 shares of the company’s stock worth $140,000 after buying an additional 396 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Merchants Bancorp by 3.8% in the 1st quarter. Victory Capital Management Inc. now owns 11,891 shares of the company’s stock worth $440,000 after buying an additional 432 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Merchants Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock worth $397,000 after buying an additional 449 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Merchants Bancorp by 182.2% in the 1st quarter. Signaturefd LLC now owns 731 shares of the company’s stock worth $27,000 after buying an additional 472 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Merchants Bancorp by 1.1% in the 1st quarter. LPL Financial LLC now owns 48,429 shares of the company’s stock worth $1,792,000 after buying an additional 526 shares in the last quarter. 24.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MBIN has been the subject of a number of recent research reports. Wall Street Zen cut Merchants Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Merchants Bancorp in a research note on Wednesday, October 8th. Piper Sandler reissued an “overweight” rating and issued a $42.00 price objective (up previously from $41.00) on shares of Merchants Bancorp in a research note on Thursday. UBS Group set a $42.00 price objective on Merchants Bancorp in a research note on Thursday. Finally, Raymond James Financial reissued an “outperform” rating and issued a $38.00 price objective (down previously from $40.00) on shares of Merchants Bancorp in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.25.

Insider Activity at Merchants Bancorp

In other news, CAO Darin L. Thomas bought 3,353 shares of the stock in a transaction dated Friday, August 22nd. The stock was bought at an average cost of $29.71 per share, with a total value of $99,617.63. Following the purchase, the chief accounting officer owned 2,250 shares of the company’s stock, valued at approximately $66,847.50. This represents a -303.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 34.80% of the company’s stock.

Merchants Bancorp Price Performance

Merchants Bancorp stock opened at $31.27 on Friday. The business’s fifty day moving average is $32.14 and its two-hundred day moving average is $32.41. The firm has a market cap of $1.43 billion, a P/E ratio of 7.19 and a beta of 1.29. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $43.82. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.88 and a current ratio of 1.20.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Tuesday, October 28th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.79 by $0.18. The company had revenue of $171.07 million during the quarter, compared to analysts’ expectations of $163.90 million. Merchants Bancorp had a return on equity of 15.37% and a net margin of 17.73%. Equities research analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, September 15th. Merchants Bancorp’s dividend payout ratio (DPR) is 9.20%.

Merchants Bancorp Profile

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.