Hohimer Wealth Management LLC Makes New $202,000 Investment in Merchants Bancorp (NASDAQ:MBIN)

Hohimer Wealth Management LLC purchased a new stake in Merchants Bancorp (NASDAQ:MBIN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,484 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds have also modified their holdings of MBIN. CWM LLC grew its holdings in Merchants Bancorp by 209.4% during the third quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after purchasing an additional 869 shares during the period. nVerses Capital LLC boosted its position in shares of 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 in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Merchants Bancorp in the 3rd quarter valued at $162,000. Point72 Asset Management L.P. increased its position in shares of Merchants Bancorp by 54.3% in the 2nd 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 in the last quarter. Finally, FMR LLC raised its stake in Merchants Bancorp by 214.5% during the 3rd quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after buying an additional 2,699 shares during the period. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Merchants Bancorp

In related news, Director Patrick D. O’brien purchased 40,000 shares of the stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 39.70% of the company’s stock.

Merchants Bancorp Price Performance

MBIN stock opened at $38.98 on Thursday. The stock has a 50-day moving average price of $41.25 and a two-hundred day moving average price of $42.46. Merchants Bancorp has a 1 year low of $35.56 and a 1 year high of $53.27. The stock has a market cap of $1.78 billion, a PE ratio of 6.45 and a beta of 1.13. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). The business had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. During the same quarter last year, the business earned $1.68 earnings per share. Equities analysts forecast that Merchants Bancorp will post 5.74 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.92%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.96%.

Analyst Ratings Changes

A number of research analysts have issued reports on MBIN shares. Piper Sandler boosted their target price on Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Raymond James decreased their price objective on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Finally, Morgan Stanley initiated coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They set an “equal weight” rating and a $54.00 target price on the stock.

About Merchants Bancorp

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.