Catalyst Capital Advisors LLC Decreases Stake in Merchants Bancorp (NASDAQ:MBIN)

Catalyst Capital Advisors LLC lessened its stake in Merchants Bancorp (NASDAQ:MBIN) by 31.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,450 shares of the company’s stock after selling 1,150 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Merchants Bancorp were worth $89,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MBIN. CWM LLC boosted its stake in shares of Merchants Bancorp by 209.4% in the 3rd quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after buying an additional 869 shares during the period. Matrix Trust Co boosted its stake in shares of Merchants Bancorp by 730.8% in the 4th quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock valued at $96,000 after buying an additional 2,324 shares during the period. FMR LLC boosted its stake in shares of Merchants Bancorp by 214.5% in the 3rd quarter. FMR LLC now owns 3,957 shares of the company’s stock valued at $178,000 after buying an additional 2,699 shares during the period. Hohimer Wealth Management LLC purchased a new position in shares of Merchants Bancorp in the 3rd quarter valued at about $202,000. Finally, Harbor Capital Advisors Inc. lifted its stake in Merchants Bancorp by 9.4% during the third quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company’s stock worth $240,000 after purchasing an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Price Performance

Shares of NASDAQ MBIN opened at $43.36 on Wednesday. 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 has a twelve month low of $34.16 and a twelve month high of $53.27. The stock has a 50 day moving average of $38.75 and a two-hundred day moving average of $41.14. The stock has a market cap of $1.98 billion, a P/E ratio of 6.87 and a beta of 1.15.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. On average, research analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current year.

Insider Buying and Selling at Merchants Bancorp

In other news, insider Scott A. Evans sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total value of $1,077,500.00. Following the transaction, the insider now owns 27,606 shares of the company’s stock, valued at approximately $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 39.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MBIN shares. Piper Sandler boosted their target price on Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Raymond James restated an “outperform” rating and set a $53.00 target price (up previously from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th.

Merchants Bancorp Company 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.