Citigroup Inc. Lowers Holdings in Merchants Bancorp (NASDAQ:MBIN)

Citigroup Inc. trimmed its position in Merchants Bancorp (NASDAQ:MBIN) by 44.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,454 shares of the company’s stock after selling 7,613 shares during the quarter. Citigroup Inc.’s holdings in Merchants Bancorp were worth $262,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its position in shares of Merchants Bancorp by 43.4% in the 1st quarter. FMR LLC now owns 1,507 shares of the company’s stock worth $39,000 after purchasing an additional 456 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Merchants Bancorp by 1,150.8% during the third quarter. Tower Research Capital LLC TRC now owns 4,140 shares of the company’s stock worth $115,000 after buying an additional 3,809 shares during the period. Advisory Services Network LLC boosted its position in Merchants Bancorp by 9.6% during the 1st quarter. Advisory Services Network LLC now owns 4,847 shares of the company’s stock valued at $126,000 after acquiring an additional 425 shares in the last quarter. Fairfield Bush & CO. purchased a new position in shares of Merchants Bancorp in the 2nd quarter valued at $136,000. Finally, Legal & General Group Plc raised its position in shares of Merchants Bancorp by 6.0% in the 4th quarter. Legal & General Group Plc now owns 6,052 shares of the company’s stock worth $147,000 after acquiring an additional 345 shares in the last quarter. Institutional investors own 24.57% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Raymond James boosted their price objective on shares of Merchants Bancorp from $44.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 30th.

Merchants Bancorp Price Performance

NASDAQ MBIN opened at $42.10 on Thursday. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 7.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.77. The stock’s fifty day moving average price is $41.95 and its 200 day moving average price is $36.35. Merchants Bancorp has a 1 year low of $21.50 and a 1 year high of $48.68.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Monday, January 29th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.14. The company had revenue of $346.21 million for the quarter, compared to the consensus estimate of $142.65 million. Merchants Bancorp had a net margin of 23.42% and a return on equity of 25.38%. As a group, equities research analysts forecast that Merchants Bancorp will post 5.65 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.86%. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, March 14th. Merchants Bancorp’s payout ratio is 6.38%.

Merchants Bancorp Company Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.