Arcus Capital Partners LLC Takes $251,000 Position in Merchants Bancorp (NASDAQ:MBIN)

Arcus Capital Partners LLC acquired a new stake in shares of Merchants Bancorp (NASDAQ:MBIN) during the third quarter, according to its most recent filing with the SEC. The fund acquired 5,589 shares of the company’s stock, valued at approximately $251,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. CWM LLC increased its holdings in shares of Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company’s stock worth $58,000 after purchasing an additional 869 shares during the period. nVerses Capital LLC increased its stake in Merchants Bancorp by 650.0% in the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock worth $61,000 after acquiring an additional 1,300 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Merchants Bancorp in the 3rd quarter valued at about $162,000. Point72 Asset Management L.P. boosted its position in shares of Merchants Bancorp by 54.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock valued at $163,000 after acquiring an additional 1,412 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Merchants Bancorp by 79.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock worth $193,000 after purchasing an additional 2,101 shares in the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Analyst Ratings Changes

MBIN has been the topic of a number of recent analyst reports. Raymond James lowered their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Piper Sandler restated an “overweight” rating and issued a $48.00 price objective (down from $56.00) on shares of Merchants Bancorp in a report on Wednesday, October 30th. Finally, Morgan Stanley initiated coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 target price on the stock.

Insider Activity

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

Merchants Bancorp Trading Up 4.2 %

NASDAQ:MBIN opened at $41.00 on Tuesday. The firm has a market capitalization of $1.88 billion, a P/E ratio of 6.79 and a beta of 1.12. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. The company has a fifty day moving average of $43.21 and a 200 day moving average of $42.95. Merchants Bancorp has a 52 week low of $31.30 and a 52 week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.25). The firm had revenue of $355.67 million for 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 23.14%. During the same period last year, the company posted $1.68 earnings per share. On average, research analysts predict that Merchants Bancorp will post 5.77 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given 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 dividend yield of 0.88%. Merchants Bancorp’s dividend payout ratio is currently 5.96%.

Merchants Bancorp 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.