Los Angeles Capital Management LLC Has $248,000 Holdings in Merchants Bancorp (NASDAQ:MBIN)

Los Angeles Capital Management LLC cut its position in Merchants Bancorp (NASDAQ:MBIN) by 80.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,512 shares of the company’s stock after selling 22,410 shares during the period. Los Angeles Capital Management LLC’s holdings in Merchants Bancorp were worth $248,000 as of its most recent SEC filing.

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

Insider Activity

In other Merchants Bancorp news, Vice Chairman Randall D. Rogers sold 75,000 shares of Merchants Bancorp stock in a transaction 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. The trade was a 9.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Petrie sold 22,050 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the sale, the chief executive officer now directly owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.70% of the stock is owned by company insiders.

Merchants Bancorp Stock Performance

Shares of NASDAQ MBIN opened at $39.51 on Tuesday. Merchants Bancorp has a one year low of $32.52 and a one year high of $53.27. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.78. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 6.58 and a beta of 1.12. The stock’s fifty day moving average price is $42.80 and its two-hundred day moving average price is $42.98.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MBIN shares. Morgan Stanley initiated coverage on Merchants Bancorp in a report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price target for the company. Raymond James reduced their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $48.00 price target (down previously from $56.00) on shares of Merchants Bancorp in a research note on Wednesday, October 30th.

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.