Denali Advisors LLC Acquires 30,356 Shares of Merchants Bancorp $MBIN

Denali Advisors LLC boosted its holdings in Merchants Bancorp (NASDAQ:MBIN) by 17.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,510 shares of the company’s stock after purchasing an additional 30,356 shares during the period. Denali Advisors LLC’s holdings in Merchants Bancorp were worth $6,631,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in Merchants Bancorp by 182.2% in the first quarter. Signaturefd LLC now owns 731 shares of the company’s stock worth $27,000 after purchasing an additional 472 shares during the last quarter. CWM LLC lifted its stake in Merchants Bancorp by 168.9% in the first quarter. CWM LLC now owns 1,358 shares of the company’s stock worth $50,000 after purchasing an additional 853 shares during the last quarter. Matrix Trust Co lifted its stake in Merchants Bancorp by 10.3% in the second quarter. Matrix Trust Co now owns 4,226 shares of the company’s stock worth $140,000 after purchasing an additional 396 shares during the last quarter. Virtus Advisers LLC bought a new stake in Merchants Bancorp in the first quarter worth $309,000. Finally, Alps Advisors Inc. lifted its stake in Merchants Bancorp by 17.5% in the first quarter. Alps Advisors Inc. now owns 9,391 shares of the company’s stock worth $347,000 after purchasing an additional 1,399 shares during the last quarter. 24.57% of the stock is owned by institutional investors.

Insider Activity at Merchants Bancorp

In other news, CAO Darin L. Thomas purchased 3,353 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were purchased at an average price of $29.71 per share, for a total transaction of $99,617.63. Following the completion of the acquisition, the chief accounting officer directly owned 2,250 shares in the company, valued at $66,847.50. This represents a -303.99% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 34.80% of the stock is currently owned by insiders.

Merchants Bancorp Price Performance

Shares of MBIN opened at $32.12 on Wednesday. The stock has a market cap of $1.47 billion, a PE ratio of 7.06 and a beta of 1.29. 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 has a fifty-two week low of $27.25 and a fifty-two week high of $44.99. The firm’s 50-day simple moving average is $32.18 and its two-hundred day simple moving average is $32.47.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.52). Merchants Bancorp had a return on equity of 16.06% and a net margin of 18.06%.The business had revenue of $179.20 million during the quarter, compared to analysts’ expectations of $161.10 million. Analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, September 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. Merchants Bancorp’s dividend payout ratio is presently 8.79%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MBIN shares. Raymond James Financial reaffirmed an “outperform” rating and set a $40.00 price objective (down from $41.00) on shares of Merchants Bancorp in a research note on Tuesday, July 29th. Wall Street Zen downgraded shares of Merchants Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $41.00 price objective (down from $42.00) on shares of Merchants Bancorp in a research note on Wednesday, July 30th. Morgan Stanley reiterated an “underperform” rating and set a $39.00 price target (up previously from $34.00) on shares of Merchants Bancorp in a research report on Monday, September 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Merchants Bancorp in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Merchants Bancorp presently has a consensus rating of “Hold” and a consensus target price of $40.00.

Merchants Bancorp Company 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.