Renaissance Technologies LLC Reduces Stake in Merchants Bancorp (NASDAQ:MBIN)

Renaissance Technologies LLC cut its stake in Merchants Bancorp (NASDAQ:MBIN) by 21.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,485 shares of the company’s stock after selling 10,890 shares during the quarter. Renaissance Technologies LLC’s holdings in Merchants Bancorp were worth $1,656,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in Merchants Bancorp by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 136,566 shares of the company’s stock valued at $5,728,000 after acquiring an additional 3,616 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in Merchants Bancorp in the first quarter valued at approximately $1,442,000. Geode Capital Management LLC lifted its holdings in Merchants Bancorp by 10.2% in the first quarter. Geode Capital Management LLC now owns 228,108 shares of the company’s stock valued at $9,566,000 after acquiring an additional 21,120 shares during the period. Windsor Group LTD acquired a new position in Merchants Bancorp in the first quarter valued at approximately $847,000. Finally, Russell Investments Group Ltd. lifted its holdings in Merchants Bancorp by 20.5% in the first quarter. Russell Investments Group Ltd. now owns 55,017 shares of the company’s stock valued at $2,305,000 after acquiring an additional 9,354 shares during the period. 22.79% of the stock is owned by institutional investors.

Shares of MBIN stock opened at $39.83 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 0.83. The firm has a market cap of $1.15 billion, a P/E ratio of 5.63 and a beta of 1.09. The stock’s 50 day simple moving average is $41.14. Merchants Bancorp has a 1-year low of $16.47 and a 1-year high of $45.67.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Tuesday, April 27th. The company reported $2.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.55. The business had revenue of $115.90 million during the quarter, compared to the consensus estimate of $92.33 million. Merchants Bancorp had a return on equity of 38.04% and a net margin of 48.06%. On average, research analysts forecast that Merchants Bancorp will post 6.58 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 1st. Investors of record on Tuesday, June 15th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Monday, June 14th. Merchants Bancorp’s payout ratio is 6.24%.

A number of research analysts have issued reports on MBIN shares. Zacks Investment Research downgraded Merchants Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 6th. TheStreet raised Merchants Bancorp from a “c+” rating to a “b” rating in a research note on Monday, May 17th.

Merchants Bancorp Company Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.

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Institutional Ownership by Quarter for Merchants Bancorp (NASDAQ:MBIN)

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