Oxford Financial Group LTD. LLC Takes $557,000 Position in Merchants Bancorp $MBIN

Oxford Financial Group LTD. LLC acquired a new stake in Merchants Bancorp (NASDAQ:MBIN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,137 shares of the company’s stock, valued at approximately $557,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Merchants Bancorp during the 2nd quarter worth about $205,260,000. Dimensional Fund Advisors LP raised its holdings in shares of Merchants Bancorp by 6.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,758,985 shares of the company’s stock valued at $75,476,000 after purchasing an additional 102,087 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Merchants Bancorp by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 1,414,584 shares of the company’s stock worth $48,181,000 after purchasing an additional 36,184 shares during the period. Geode Capital Management LLC lifted its position in shares of Merchants Bancorp by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 715,394 shares of the company’s stock worth $24,371,000 after purchasing an additional 18,925 shares during the period. Finally, State Street Corp lifted its position in shares of Merchants Bancorp by 4.7% in the 4th quarter. State Street Corp now owns 574,086 shares of the company’s stock worth $19,609,000 after purchasing an additional 25,823 shares during the period. 24.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Merchants Bancorp

In other news, Director Julia L. Kaercher sold 9,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $55.20, for a total transaction of $496,800.00. Following the completion of the sale, the director owned 727,103 shares in the company, valued at approximately $40,136,085.60. This represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 44.90% of the company’s stock.

Wall Street Analyst Weigh In

MBIN has been the topic of several research reports. Piper Sandler reissued an “overweight” rating and set a $64.00 price objective on shares of Merchants Bancorp in a report on Wednesday, July 29th. Raymond James Financial lowered Merchants Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Zacks Research raised Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Merchants Bancorp in a report on Friday, July 31st. Finally, Morgan Stanley reissued a “positive” rating and issued a $49.00 price target (up from $46.00) on shares of Merchants Bancorp in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $51.50.

Merchants Bancorp Stock Up 1.2%

Shares of Merchants Bancorp stock opened at $54.13 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.32. The company has a market cap of $2.49 billion, a P/E ratio of 10.87 and a beta of 1.14. The firm’s 50 day moving average price is $50.89 and its 200-day moving average price is $47.26. Merchants Bancorp has a 52-week low of $30.37 and a 52-week high of $56.87.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Tuesday, July 28th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.26. The company had revenue of $182.22 million during the quarter, compared to analysts’ expectations of $179.00 million. Merchants Bancorp had a net margin of 19.80% and a return on equity of 15.29%. On average, sell-side analysts predict that Merchants Bancorp will post 5.58 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. Merchants Bancorp’s dividend payout ratio is presently 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.