Curry Webb Wealth Management LLC Buys Shares of 14,083 Merchants Bancorp $MBIN

Curry Webb Wealth Management LLC purchased a new stake in Merchants Bancorp (NASDAQ:MBIN) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,083 shares of the company’s stock, valued at approximately $604,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Merchants Bancorp by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 1,414,584 shares of the company’s stock valued at $48,181,000 after buying an additional 36,184 shares during the period. Hsbc Holdings PLC purchased a new stake in Merchants Bancorp during the fourth quarter worth $355,000. Principal Financial Group Inc. purchased a new stake in Merchants Bancorp during the first quarter worth $6,120,000. Sapient Capital LLC boosted its position in Merchants Bancorp by 41.2% during the 4th quarter. Sapient Capital LLC now owns 75,521 shares of the company’s stock valued at $2,550,000 after acquiring an additional 22,030 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Merchants Bancorp by 43.7% during the 1st quarter. Bank of New York Mellon Corp now owns 236,146 shares of the company’s stock valued at $10,133,000 after acquiring an additional 71,775 shares in the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Insiders Place Their Bets

In related news, Director Julia L. Kaercher sold 9,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $55.20, for a total transaction of $496,800.00. Following the transaction, the director directly owned 727,103 shares of the company’s stock, valued at $40,136,085.60. This represents a 1.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 44.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MBIN has been the topic of a number of analyst reports. Morgan Stanley reiterated a “positive” rating and issued a $49.00 price target (up from $46.00) on shares of Merchants Bancorp in a report on Monday, June 29th. Raymond James Financial cut Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Weiss Ratings raised Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Piper Sandler reiterated an “overweight” rating and issued a $64.00 target price on shares of Merchants Bancorp in a research note on Wednesday. Finally, Zacks Research downgraded shares of Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 30th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.50.

Merchants Bancorp Price Performance

Shares of MBIN opened at $55.18 on Monday. The company has a 50 day moving average of $48.87 and a two-hundred day moving average of $45.42. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.32. Merchants Bancorp has a twelve month low of $28.75 and a twelve month high of $56.87. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 11.08 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.26. The business had revenue of $182.22 million for the quarter, compared to the consensus estimate of $179.00 million. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%. As a group, analysts predict that Merchants Bancorp will post 5.58 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, June 15th. Merchants Bancorp’s payout ratio is 8.84%.

Merchants Bancorp 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.