Doma Perpetual Capital Management LLC Acquires New Shares in Merchants Bancorp $MBIN

Doma Perpetual Capital Management LLC acquired a new position in shares of Merchants Bancorp (NASDAQ:MBIN) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 93,833 shares of the company’s stock, valued at approximately $2,984,000. Merchants Bancorp comprises about 1.0% of Doma Perpetual Capital Management LLC’s investment portfolio, making the stock its 10th biggest position.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Merchants Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock valued at $397,000 after purchasing an additional 449 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Merchants Bancorp by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 21,677 shares of the company’s stock worth $717,000 after buying an additional 795 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Merchants Bancorp by 3.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,967 shares of the company’s stock worth $760,000 after buying an additional 811 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Merchants Bancorp by 44.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,649 shares of the company’s stock valued at $88,000 after acquiring an additional 817 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in Merchants Bancorp by 6.6% in the 2nd quarter. Osaic Holdings Inc. now owns 14,376 shares of the company’s stock valued at $475,000 after acquiring an additional 884 shares during the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Merchants Bancorp

In related news, insider Martin A. Schroeter sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $46.06, for a total transaction of $253,330.00. Following the sale, the insider owned 10,881 shares in the company, valued at approximately $501,178.86. This trade represents a 33.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 34.80% of the company’s stock.

Merchants Bancorp Trading Down 1.4%

Merchants Bancorp stock opened at $41.66 on Monday. The stock has a 50-day moving average price of $40.60 and a 200 day moving average price of $35.48. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $48.50. The stock has a market cap of $1.91 billion, a PE ratio of 11.02 and a beta of 1.25. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 2.22.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Wednesday, January 28th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.34. Merchants Bancorp had a net margin of 16.02% and a return on equity of 13.17%. The company had revenue of $185.29 million for the quarter, compared to analyst estimates of $170.80 million. Equities research analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 28th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 6.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Merchants Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 1.1%. Merchants Bancorp’s payout ratio is currently 11.64%.

Analyst Upgrades and Downgrades

MBIN has been the subject of a number of research reports. Zacks Research upgraded shares of Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Merchants Bancorp in a research report on Monday, December 29th. Finally, Morgan Stanley raised their price objective on shares of Merchants Bancorp from $42.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.25.

Merchants Bancorp Profile

Merchants Bancorp (NASDAQ: MBIN) is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company’s primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.