Boston Partners Sells 28,699 Shares of Merchants Bancorp $MBIN

Boston Partners reduced its position in Merchants Bancorp (NASDAQ:MBIN) by 66.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 14,222 shares of the company’s stock after selling 28,699 shares during the period. Boston Partners’ holdings in Merchants Bancorp were worth $470,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MBIN. CWM LLC lifted its position in shares of Merchants Bancorp by 168.9% in the first quarter. CWM LLC now owns 1,358 shares of the company’s stock valued at $50,000 after buying an additional 853 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Merchants Bancorp by 44.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,649 shares of the company’s stock valued at $88,000 after acquiring an additional 817 shares during the period. Matrix Trust Co lifted its holdings in Merchants Bancorp by 10.3% during the 2nd quarter. Matrix Trust Co now owns 4,226 shares of the company’s stock valued at $140,000 after purchasing an additional 396 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in Merchants Bancorp by 51.9% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,867 shares of the company’s stock valued at $194,000 after purchasing an additional 2,004 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in Merchants Bancorp during the second quarter worth $229,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $42.00 price objective (up from $41.00) on shares of Merchants Bancorp in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Merchants Bancorp in a report on Wednesday, October 8th. UBS Group set a $42.00 price objective on shares of Merchants Bancorp in a research report on Thursday, October 30th. Raymond James Financial restated an “outperform” rating and set a $38.00 price objective (down previously from $40.00) on shares of Merchants Bancorp in a report on Wednesday, October 29th. Finally, Zacks Research upgraded Merchants Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.25.

Merchants Bancorp Stock Performance

NASDAQ MBIN opened at $32.67 on Monday. The firm has a 50-day moving average price of $31.87 and a two-hundred day moving average price of $32.41. Merchants Bancorp has a 12-month low of $27.25 and a 12-month high of $43.82. The company has a market capitalization of $1.50 billion, a P/E ratio of 7.51 and a beta of 1.33. The company has a quick ratio of 0.88, a current ratio of 1.20 and a debt-to-equity ratio of 2.45.

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

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.40 annualized dividend and a yield of 1.2%. Merchants Bancorp’s payout ratio is currently 9.20%.

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.