Basswood Capital Management L.L.C. Sells 34,683 Shares of Merchants Bancorp (NASDAQ:MBIN)

Basswood Capital Management L.L.C. reduced its position in Merchants Bancorp (NASDAQ:MBIN) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 601,954 shares of the company’s stock after selling 34,683 shares during the quarter. Merchants Bancorp accounts for approximately 1.4% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 24th largest holding. Basswood Capital Management L.L.C. owned approximately 1.32% of Merchants Bancorp worth $27,064,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its holdings in Merchants Bancorp by 91.5% during the second quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock worth $10,721,000 after buying an additional 126,375 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Merchants Bancorp by 75.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 142,553 shares of the company’s stock valued at $5,779,000 after purchasing an additional 61,292 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Merchants Bancorp during the first quarter valued at about $587,000. Royce & Associates LP grew its stake in Merchants Bancorp by 143.1% in the third quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock valued at $22,039,000 after purchasing an additional 288,553 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Merchants Bancorp by 2.5% in the first quarter. Vanguard Group Inc. now owns 994,962 shares of the company’s stock worth $42,962,000 after purchasing an additional 24,122 shares in the last quarter. 24.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Patrick D. O’brien bought 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the acquisition, the director now directly owns 40,000 shares of the company’s stock, valued at $1,000,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 39.70% of the stock is currently owned by company insiders.

Merchants Bancorp Price Performance

Shares of MBIN stock opened at $41.28 on Monday. Merchants Bancorp has a fifty-two week low of $33.05 and a fifty-two week high of $53.27. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 6.83 and a beta of 1.12. The stock’s 50-day simple moving average is $42.03 and its 200-day simple moving average is $42.60.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. The company had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. During the same quarter last year, the business earned $1.68 earnings per share. As a group, equities analysts forecast that Merchants Bancorp will post 5.74 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th. Merchants Bancorp’s payout ratio is 5.96%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MBIN shares. Piper Sandler raised their price target on shares of Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Morgan Stanley began coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price target on the stock. Finally, Raymond James reduced their price target on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th.

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.