Catalyst Capital Advisors LLC Buys Shares of 3,600 Merchants Bancorp (NASDAQ:MBIN)

Catalyst Capital Advisors LLC purchased a new position in Merchants Bancorp (NASDAQ:MBIN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,600 shares of the company’s stock, valued at approximately $162,000.

Other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in Merchants Bancorp by 11.5% in the 1st quarter. BNP Paribas Financial Markets now owns 16,315 shares of the company’s stock worth $704,000 after buying an additional 1,683 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Merchants Bancorp by 8.2% during the first quarter. Empowered Funds LLC now owns 141,201 shares of the company’s stock worth $6,097,000 after acquiring an additional 10,675 shares in the last quarter. Vanguard Group Inc. boosted its position in Merchants Bancorp by 2.5% during the first quarter. Vanguard Group Inc. now owns 994,962 shares of the company’s stock valued at $42,962,000 after purchasing an additional 24,122 shares during the last quarter. Wellington Wealth Strategies LLC. purchased a new position in Merchants Bancorp in the first quarter valued at about $202,000. Finally, Lazard Asset Management LLC increased its position in Merchants Bancorp by 446.3% in the 1st quarter. Lazard Asset Management LLC now owns 6,665 shares of the company’s stock worth $287,000 after purchasing an additional 5,445 shares during the last quarter. 24.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Merchants Bancorp news, Vice Chairman Randall D. Rogers sold 75,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the completion of the sale, the insider now directly owns 748,000 shares in the company, valued at $32,912,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael F. Petrie sold 22,050 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total value of $999,747.00. Following the sale, the chief executive officer now owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the transaction, the insider now owns 748,000 shares of the company’s stock, valued at approximately $32,912,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 39.70% of the company’s stock.

Merchants Bancorp Stock Performance

Shares of NASDAQ MBIN opened at $37.01 on Wednesday. The business’s 50-day simple moving average is $43.49 and its 200-day simple moving average is $42.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.01. Merchants Bancorp has a 52 week low of $31.09 and a 52 week high of $53.27. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 6.13 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 23.14%. The company had revenue of $355.67 million for the quarter, compared to analyst estimates of $156.13 million. During the same quarter last year, the business earned $1.68 EPS. As a group, equities research analysts expect that Merchants Bancorp will post 5.77 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.97%. Merchants Bancorp’s payout ratio is presently 5.96%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MBIN shares. Piper Sandler reiterated an “overweight” rating and set a $48.00 price target (down from $56.00) on shares of Merchants Bancorp in a report on Wednesday, October 30th. Raymond James decreased their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Finally, Morgan Stanley started coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price target on the stock.

About Merchants Bancorp

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.