Engineers Gate Manager LP Takes $326,000 Position in Merchants Bancorp (NASDAQ:MBIN)
Engineers Gate Manager LP bought a new stake in Merchants Bancorp (NASDAQ:MBIN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,800 shares of the company’s stock, valued at approximately $326,000.
Several other hedge funds also recently bought and sold shares of the company. Great West Life Assurance Co. Can grew its stake in shares of Merchants Bancorp by 38.3% in the third quarter. Great West Life Assurance Co. Can now owns 1,909 shares of the company’s stock valued at $644,000 after buying an additional 529 shares in the last quarter. First Trust Advisors LP grew its stake in Merchants Bancorp by 8.0% during the 4th quarter. First Trust Advisors LP now owns 11,337 shares of the company’s stock valued at $313,000 after purchasing an additional 837 shares in the last quarter. Wells Fargo & Company MN grew its stake in Merchants Bancorp by 4.0% during the 3rd quarter. Wells Fargo & Company MN now owns 41,671 shares of the company’s stock valued at $821,000 after purchasing an additional 1,609 shares in the last quarter. Rhumbline Advisers grew its stake in Merchants Bancorp by 11.5% during the 4th quarter. Rhumbline Advisers now owns 17,723 shares of the company’s stock valued at $490,000 after purchasing an additional 1,828 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in Merchants Bancorp by 5.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 50,908 shares of the company’s stock valued at $1,407,000 after purchasing an additional 2,573 shares in the last quarter. Institutional investors and hedge funds own 21.45% of the company’s stock.
In related news, Director Patrick D. O’brien purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, March 11th. The shares were acquired at an average price of $26.55 per share, with a total value of $106,200.00. Following the acquisition, the director now owns 40,000 shares in the company, valued at approximately $1,062,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David N. Shane purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at approximately $50,000. The disclosure for this purchase can be found here. In the last three months, insiders purchased 14,000 shares of company stock worth $356,200. Company insiders own 43.42% of the company’s stock.
Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Wednesday, January 27th. The company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.46. Merchants Bancorp had a return on equity of 31.07% and a net margin of 40.10%. The company had revenue of $111.96 million for the quarter, compared to the consensus estimate of $91.19 million. As a group, sell-side analysts expect that Merchants Bancorp will post 5.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 15th were issued a $0.09 dividend. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 12th. This represents a $0.36 annualized dividend and a dividend yield of 0.89%. Merchants Bancorp’s dividend payout ratio (DPR) is 15.19%.
A number of equities research analysts have weighed in on MBIN shares. Zacks Investment Research lowered Merchants Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Raymond James raised their price objective on Merchants Bancorp from $39.00 to $44.00 and gave the company a “strong-buy” rating in a research note on Monday, February 1st. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Merchants Bancorp currently has an average rating of “Buy” and a consensus target price of $30.50.
Merchants Bancorp Company Profile
Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.
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