Sonen Capital LLC Has $520,000 Holdings in Merchants Bancorp (NASDAQ:MBIN)

Sonen Capital LLC lifted its stake in shares of Merchants Bancorp (NASDAQ:MBINGet Rating) by 216.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,000 shares of the company’s stock after buying an additional 13,000 shares during the quarter. Sonen Capital LLC’s holdings in Merchants Bancorp were worth $520,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MBIN. Assenagon Asset Management S.A. raised its stake in shares of Merchants Bancorp by 54.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 87,881 shares of the company’s stock worth $2,406,000 after purchasing an additional 30,913 shares during the period. Summit Global Investments bought a new stake in Merchants Bancorp in the 1st quarter worth approximately $523,000. John W. Rosenthal Capital Management Inc. lifted its position in Merchants Bancorp by 50.0% in the 1st quarter. John W. Rosenthal Capital Management Inc. now owns 52,500 shares of the company’s stock worth $1,437,000 after buying an additional 17,500 shares during the last quarter. Peloton Wealth Strategists bought a new stake in Merchants Bancorp in the fourth quarter valued at approximately $225,000. Finally, Seizert Capital Partners LLC lifted its position in Merchants Bancorp by 50.1% in the first quarter. Seizert Capital Partners LLC now owns 65,565 shares of the company’s stock valued at $1,795,000 after purchasing an additional 21,888 shares during the last quarter. Institutional investors and hedge funds own 14.78% of the company’s stock.

Merchants Bancorp Stock Performance

Shares of Merchants Bancorp stock traded down $0.43 during trading on Friday, hitting $27.27. 38,288 shares of the company’s stock traded hands, compared to its average volume of 51,849. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.16 and a quick ratio of 0.86. Merchants Bancorp has a 1 year low of $21.52 and a 1 year high of $33.57. The stock has a market capitalization of $1.18 billion, a P/E ratio of 5.39 and a beta of 1.11. The business has a 50-day simple moving average of $24.09 and a 200-day simple moving average of $26.15.

Merchants Bancorp (NASDAQ:MBINGet Rating) last released its earnings results on Thursday, July 28th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.21. Merchants Bancorp had a return on equity of 27.60% and a net margin of 45.42%. As a group, analysts forecast that Merchants Bancorp will post 4.54 EPS for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Wednesday, June 15th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Tuesday, June 14th. Merchants Bancorp’s dividend payout ratio is currently 5.53%.

Wall Street Analyst Weigh In

Separately, Raymond James upped their target price on Merchants Bancorp from $33.00 to $37.00 and gave the company a “strong-buy” rating in a report on Monday, August 1st.

Insider Buying and Selling

In other Merchants Bancorp news, CEO Michael R. Dury purchased 4,500 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average cost of $23.26 per share, with a total value of $104,670.00. Following the purchase, the chief executive officer now owns 93,260 shares of the company’s stock, valued at $2,169,227.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 40.75% of the stock is owned by corporate insiders.

About Merchants Bancorp

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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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Institutional Ownership by Quarter for Merchants Bancorp (NASDAQ:MBIN)

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