Short Interest in Merchants Bancorp (NASDAQ:MBIN) Expands By 27.9%

Merchants Bancorp (NASDAQ:MBIN) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 75,600 shares, a growth of 27.9% from the August 15th total of 59,100 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average trading volume of 39,000 shares, the short-interest ratio is currently 1.9 days.

A number of institutional investors have recently bought and sold shares of the business. Cornercap Investment Counsel Inc. purchased a new position in shares of Merchants Bancorp in the first quarter worth about $824,000. Assenagon Asset Management S.A. purchased a new position in shares of Merchants Bancorp during the 2nd quarter valued at approximately $721,000. Basswood Capital Management L.L.C. raised its position in shares of Merchants Bancorp by 9.4% in the first quarter. Basswood Capital Management L.L.C. now owns 447,281 shares of the company’s stock worth $6,790,000 after acquiring an additional 38,308 shares during the period. Russell Investments Group Ltd. raised its holdings in Merchants Bancorp by 110.1% in the 1st quarter. Russell Investments Group Ltd. now owns 55,587 shares of the company’s stock worth $841,000 after purchasing an additional 29,126 shares during the period. Finally, Parametric Portfolio Associates LLC purchased a new position in shares of Merchants Bancorp during the 1st quarter valued at approximately $359,000. Institutional investors and hedge funds own 21.74% of the company’s stock.

A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of Merchants Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Zacks Investment Research upgraded Merchants Bancorp from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a report on Thursday, August 6th. TheStreet lowered shares of Merchants Bancorp from a “c-” rating to a “d” rating in a report on Tuesday, July 28th. Raymond James raised Merchants Bancorp from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, June 17th. Finally, SunTrust Banks lifted their price objective on shares of Merchants Bancorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Merchants Bancorp has an average rating of “Buy” and a consensus price target of $20.75.

Shares of MBIN traded up $0.51 during midday trading on Wednesday, hitting $21.01. 29,800 shares of the company’s stock traded hands, compared to its average volume of 36,884. The company has a current ratio of 1.30, a quick ratio of 0.74 and a debt-to-equity ratio of 3.55. The stock has a market capitalization of $603.95 million, a price-to-earnings ratio of 5.89 and a beta of 1.03. Merchants Bancorp has a 1 year low of $12.37 and a 1 year high of $21.90. The firm’s fifty day moving average is $19.70 and its 200-day moving average is $17.02.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Wednesday, July 29th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.83. Merchants Bancorp had a return on equity of 25.60% and a net margin of 34.98%. The company had revenue of $77.42 million for the quarter, compared to analyst estimates of $52.81 million. On average, equities research analysts anticipate that Merchants Bancorp will post 4 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Monday, September 14th. Merchants Bancorp’s payout ratio is 13.50%.

About Merchants Bancorp

Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates in three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.

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