Y Intercept Hong Kong Ltd Trims Stock Position in Merchants Bancorp (NASDAQ:MBIN)

Y Intercept Hong Kong Ltd decreased its holdings in Merchants Bancorp (NASDAQ:MBIN) by 11.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,649 shares of the company’s stock after selling 2,117 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Merchants Bancorp were worth $749,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in shares of Merchants Bancorp by 0.8% during the 2nd quarter. Raymond James & Associates now owns 55,365 shares of the company’s stock worth $2,244,000 after acquiring an additional 414 shares during the last quarter. Victory Capital Management Inc. lifted its position in Merchants Bancorp by 3.7% during the third quarter. Victory Capital Management Inc. now owns 12,734 shares of the company’s stock valued at $573,000 after purchasing an additional 456 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Merchants Bancorp by 9.4% during the third quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company’s stock valued at $240,000 after purchasing an additional 460 shares in the last quarter. Sei Investments Co. grew its holdings in Merchants Bancorp by 10.3% during the second quarter. Sei Investments Co. now owns 8,571 shares of the company’s stock valued at $347,000 after purchasing an additional 800 shares during the period. Finally, CWM LLC increased its position in Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company’s stock worth $58,000 after buying an additional 869 shares in the last quarter. 24.57% of the stock is currently owned by institutional investors.

Merchants Bancorp Stock Up 0.6 %

NASDAQ MBIN opened at $38.48 on Friday. Merchants Bancorp has a 12 month low of $35.56 and a 12 month high of $53.27. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The stock has a market cap of $1.76 billion, a PE ratio of 6.37 and a beta of 1.13. The stock’s 50 day moving average is $41.15 and its 200 day moving average is $42.44.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.25). The company had revenue of $355.67 million during the quarter, compared to analysts’ expectations of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same period last year, the firm posted $1.68 EPS. Research analysts predict that Merchants Bancorp will post 5.74 EPS 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. Stockholders of record on Friday, December 13th will be issued a $0.09 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. Merchants Bancorp’s dividend payout ratio (DPR) is 5.96%.

Insider Transactions at Merchants Bancorp

In other Merchants Bancorp news, Director Patrick D. O’brien purchased 40,000 shares of Merchants Bancorp stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $1,000,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 39.70% of the company’s stock.

Wall Street Analyst Weigh In

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

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.