Banc Funds Co. LLC Sells 45,100 Shares of Merchants Bancorp $MBIN

Banc Funds Co. LLC trimmed its position in Merchants Bancorp (NASDAQ:MBIN) by 11.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,690 shares of the company’s stock after selling 45,100 shares during the quarter. Merchants Bancorp makes up approximately 1.9% of Banc Funds Co. LLC’s portfolio, making the stock its 13th biggest holding. Banc Funds Co. LLC owned approximately 0.74% of Merchants Bancorp worth $10,834,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Merchants Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock worth $397,000 after acquiring an additional 449 shares during the period. Legal & General Group Plc boosted its holdings in Merchants Bancorp by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 21,677 shares of the company’s stock valued at $717,000 after purchasing an additional 795 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Merchants Bancorp by 3.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,967 shares of the company’s stock valued at $760,000 after purchasing an additional 811 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Merchants Bancorp by 44.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,649 shares of the company’s stock valued at $88,000 after purchasing an additional 817 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of Merchants Bancorp by 6.6% during the 2nd quarter. Osaic Holdings Inc. now owns 14,376 shares of the company’s stock valued at $475,000 after purchasing an additional 884 shares in the last quarter. 24.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Merchants Bancorp in a research report on Monday, December 29th. Zacks Research upgraded Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Finally, Morgan Stanley upped their target price on Merchants Bancorp from $42.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Merchants Bancorp has a consensus rating of “Moderate Buy” and an average price target of $43.25.

Insider Transactions at Merchants Bancorp

In other news, insider Martin A. Schroeter sold 5,500 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $46.06, for a total value of $253,330.00. Following the completion of the transaction, the insider directly owned 10,881 shares in the company, valued at approximately $501,178.86. This represents a 33.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 34.80% of the stock is currently owned by company insiders.

Merchants Bancorp Price Performance

Shares of NASDAQ:MBIN opened at $41.66 on Friday. The company’s fifty day moving average price is $40.60 and its 200-day moving average price is $35.47. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 11.02 and a beta of 1.25. Merchants Bancorp has a one year low of $27.25 and a one year high of $48.50. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.16 and a quick ratio of 0.86.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.34. Merchants Bancorp had a net margin of 16.02% and a return on equity of 13.17%. The company had revenue of $185.29 million during the quarter, compared to the consensus estimate of $170.80 million. On average, equities research analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, March 13th. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.1%. Merchants Bancorp’s dividend payout ratio (DPR) is 10.58%.

Merchants Bancorp announced that its board has authorized a share buyback program on Wednesday, January 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Merchants Bancorp Company Profile

Merchants Bancorp (NASDAQ: MBIN) is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company’s primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.