Intech Investment Management LLC Sells 4,172 Shares of Merchants Bancorp $MBIN

Intech Investment Management LLC lessened its position in Merchants Bancorp (NASDAQ:MBIN) by 30.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,597 shares of the company’s stock after selling 4,172 shares during the period. Intech Investment Management LLC’s holdings in Merchants Bancorp were worth $317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MBIN. Elser Financial Planning Inc purchased a new position in shares of Merchants Bancorp in the second quarter worth $934,497,000. Vanguard Group Inc. raised its holdings in shares of Merchants Bancorp by 2.2% during the first quarter. Vanguard Group Inc. now owns 1,233,965 shares of the company’s stock valued at $45,657,000 after purchasing an additional 26,111 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Merchants Bancorp by 17.4% during the second quarter. Geode Capital Management LLC now owns 681,486 shares of the company’s stock valued at $22,539,000 after purchasing an additional 101,139 shares during the last quarter. American Century Companies Inc. lifted its position in Merchants Bancorp by 8.0% during the first quarter. American Century Companies Inc. now owns 512,942 shares of the company’s stock valued at $18,979,000 after purchasing an additional 38,038 shares during the period. Finally, Invesco Ltd. boosted its holdings in Merchants Bancorp by 1.9% in the first quarter. Invesco Ltd. now owns 480,622 shares of the company’s stock worth $17,783,000 after purchasing an additional 9,192 shares during the last quarter. 24.57% of the stock is owned by institutional investors.

Merchants Bancorp Stock Performance

NASDAQ MBIN opened at $32.67 on Monday. 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 has a twelve month low of $27.25 and a twelve month high of $43.82. The business has a 50-day moving average price of $31.87 and a 200-day moving average price of $32.41. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 7.51 and a beta of 1.33.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Tuesday, October 28th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.79 by $0.18. The firm had revenue of $171.07 million for 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%. As a group, equities research analysts predict that Merchants Bancorp will post 5.54 EPS for the current fiscal 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 dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, December 15th. Merchants Bancorp’s dividend payout ratio is 9.20%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MBIN shares. Morgan Stanley reiterated an “underperform” rating and set a $39.00 price objective (up previously from $34.00) on shares of Merchants Bancorp in a research report on Monday, September 29th. UBS Group set a $42.00 price objective on shares of Merchants Bancorp in a research note on Thursday, October 30th. Zacks Research upgraded shares of Merchants Bancorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of Merchants Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Merchants Bancorp in a research report on Wednesday, October 8th. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.25.

About Merchants Bancorp

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.