Siena Capital Partners GP LLC Invests $822,000 in Merchants Bancorp (NASDAQ:MBIN)

Siena Capital Partners GP LLC acquired a new position in shares of Merchants Bancorp (NASDAQ:MBIN) in the third quarter, HoldingsChannel.com reports. The firm acquired 18,290 shares of the company’s stock, valued at approximately $822,000.

Other large investors also recently modified their holdings of the company. Marshall Wace LLP lifted its stake in Merchants Bancorp by 6,793.6% in the 2nd quarter. Marshall Wace LLP now owns 365,290 shares of the company’s stock valued at $14,809,000 after purchasing an additional 359,991 shares during the last quarter. Royce & Associates LP lifted its stake in Merchants Bancorp by 143.1% in the 3rd quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock valued at $22,039,000 after purchasing an additional 288,553 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Merchants Bancorp by 91.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock valued at $10,721,000 after purchasing an additional 126,375 shares during the last quarter. Ovata Capital Management Ltd bought a new position in Merchants Bancorp in the 2nd quarter valued at about $4,054,000. Finally, Dimensional Fund Advisors LP raised its holdings in Merchants Bancorp by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company’s stock valued at $41,465,000 after acquiring an additional 94,781 shares during the period. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, CEO Michael F. Petrie sold 22,050 shares of the firm’s stock in a transaction that occurred 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 $90,251,310.30. This trade represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Patrick D. O’brien purchased 40,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the acquisition, the director now owns 40,000 shares of the company’s stock, valued at $1,000,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 39.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Merchants Bancorp Stock Up 3.2 %

Shares of MBIN opened at $39.40 on Friday. Merchants Bancorp has a 12 month low of $32.52 and a 12 month high of $53.27. The firm’s 50 day moving average is $42.58 and its 200-day moving average is $42.87. The stock has a market capitalization of $1.80 billion, a PE ratio of 6.52 and a beta of 1.12. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). The firm had revenue of $355.67 million during the quarter, compared to the consensus estimate of $156.13 million. Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. During the same period last year, the business earned $1.68 earnings per share. Equities research analysts forecast that Merchants Bancorp will post 5.77 EPS for the current year.

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.09 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.91%. Merchants Bancorp’s dividend payout ratio is currently 5.96%.

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.