14,083 Shares in Merchants Bancorp $MBIN Acquired by Curry Webb Wealth Management LLC

Curry Webb Wealth Management LLC bought a new position in shares of Merchants Bancorp (NASDAQ:MBIN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,083 shares of the company’s stock, valued at approximately $604,000.

Other hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Merchants Bancorp during the fourth quarter worth $34,000. Tower Research Capital LLC TRC grew its holdings in shares of Merchants Bancorp by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock valued at $73,000 after buying an additional 1,153 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Merchants Bancorp in the 1st quarter valued at $215,000. Fifth Third Bancorp acquired a new position in shares of Merchants Bancorp in the 1st quarter valued at $270,000. Finally, Oregon Public Employees Retirement Fund purchased a new position in Merchants Bancorp in the 1st quarter worth $287,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Activity

In other news, Director Julia L. Kaercher sold 9,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $55.20, for a total value of $496,800.00. Following the sale, the director owned 727,103 shares in the company, valued at $40,136,085.60. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 44.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MBIN has been the subject of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and set a $64.00 price target on shares of Merchants Bancorp in a research report on Wednesday. Morgan Stanley reissued a “positive” rating and issued a $49.00 price objective (up from $46.00) on shares of Merchants Bancorp in a report on Monday, June 29th. Zacks Research cut Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 30th. Weiss Ratings raised Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Finally, Raymond James Financial lowered Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

Merchants Bancorp Stock Performance

Shares of Merchants Bancorp stock opened at $55.18 on Monday. The stock has a market cap of $2.53 billion, a PE ratio of 11.08 and a beta of 1.14. The firm has a fifty day moving average price of $48.87 and a 200 day moving average price of $45.42. Merchants Bancorp has a 1 year low of $28.75 and a 1 year high of $56.87. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.21 and a quick ratio of 0.89.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.22 by $0.26. The company had revenue of $182.22 million for the quarter, compared to analyst estimates of $179.00 million. Merchants Bancorp had a net margin of 19.80% and a return on equity of 15.29%. Equities research analysts predict that Merchants Bancorp will post 5.58 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 15th. Merchants Bancorp’s payout ratio is 8.84%.

About Merchants Bancorp

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.