Oxford Financial Group LTD. LLC Takes Position in Merchants Bancorp $MBIN

Oxford Financial Group LTD. LLC bought a new stake in shares of Merchants Bancorp (NASDAQ:MBIN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,137 shares of the company’s stock, valued at approximately $557,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Merchants Bancorp by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 1,414,584 shares of the company’s stock worth $48,181,000 after buying an additional 36,184 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Merchants Bancorp in the first quarter valued at $6,120,000. Hsbc Holdings PLC purchased a new stake in shares of Merchants Bancorp in the fourth quarter valued at $355,000. Sei Investments Co. raised its stake in shares of Merchants Bancorp by 94.9% in the first quarter. Sei Investments Co. now owns 108,975 shares of the company’s stock valued at $4,676,000 after acquiring an additional 53,051 shares during the period. Finally, Sapient Capital LLC lifted its holdings in shares of Merchants Bancorp by 41.2% in the 4th quarter. Sapient Capital LLC now owns 75,521 shares of the company’s stock worth $2,550,000 after acquiring an additional 22,030 shares during the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MBIN. Weiss Ratings reiterated a “buy (b-)” rating on shares of Merchants Bancorp in a report on Friday, July 31st. Morgan Stanley reissued a “positive” rating and issued a $49.00 price objective (up from $46.00) on shares of Merchants Bancorp in a research note on Monday, June 29th. Piper Sandler restated an “overweight” rating and set a $64.00 target price on shares of Merchants Bancorp in a research report on Wednesday, July 29th. Zacks Research upgraded Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Raymond James Financial cut Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Merchants Bancorp has a consensus rating of “Buy” and a consensus target price of $51.50.

Insider Activity at Merchants Bancorp

In other news, Director Julia L. Kaercher sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were 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 approximately $40,136,085.60. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 44.90% of the company’s stock.

Merchants Bancorp Stock Up 1.2%

Shares of MBIN opened at $54.13 on Friday. The firm has a market capitalization of $2.49 billion, a P/E ratio of 10.87 and a beta of 1.14. Merchants Bancorp has a 12-month low of $30.37 and a 12-month high of $56.87. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32. The firm has a fifty day moving average price of $50.89 and a 200-day moving average price of $47.26.

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

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Merchants Bancorp’s dividend payout ratio is currently 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.