Valeo Financial Advisors LLC Sells 21,508 Shares of Merchants Bancorp (NASDAQ:MBIN)

Valeo Financial Advisors LLC reduced its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 8.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 235,321 shares of the company’s stock after selling 21,508 shares during the period. Valeo Financial Advisors LLC owned 0.54% of Merchants Bancorp worth $10,161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MeadowBrook Investment Advisors LLC acquired a new position in Merchants Bancorp during the 4th quarter valued at $26,000. AJOVista LLC bought a new stake in shares of Merchants Bancorp in the fourth quarter valued at about $86,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Merchants Bancorp by 45.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,648 shares of the company’s stock worth $198,000 after buying an additional 1,463 shares in the last quarter. Arizona State Retirement System bought a new position in Merchants Bancorp during the fourth quarter valued at about $206,000. Finally, Yorktown Management & Research Co Inc acquired a new position in Merchants Bancorp in the 4th quarter valued at approximately $375,000. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Merchants Bancorp Price Performance

Shares of MBIN stock traded down $0.37 during trading hours on Wednesday, hitting $40.76. The company had a trading volume of 57,580 shares, compared to its average volume of 164,705. Merchants Bancorp has a 12 month low of $24.46 and a 12 month high of $48.68. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.81 and a current ratio of 1.06. The firm’s fifty day moving average is $41.41 and its 200 day moving average is $41.48. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 6.46 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Monday, April 29th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.43. Merchants Bancorp had a return on equity of 26.65% and a net margin of 23.55%. The firm had revenue of $355.05 million for the quarter, compared to analysts’ expectations of $144.15 million. On average, sell-side analysts predict that Merchants Bancorp will post 6.38 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.88%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.65%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Piper Sandler restated an “overweight” rating and set a $56.00 price objective (down from $58.50) on shares of Merchants Bancorp in a research report on Friday, May 17th. Raymond James reissued a “strong-buy” rating and issued a $55.00 price target on shares of Merchants Bancorp in a report on Wednesday, May 15th.

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.