Royce & Associates LP Raises Position in Merchants Bancorp (NASDAQ:MBIN)

Royce & Associates LP raised its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 143.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 490,189 shares of the company’s stock after acquiring an additional 288,553 shares during the quarter. Royce & Associates LP owned approximately 1.07% of Merchants Bancorp worth $22,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in shares of Merchants Bancorp by 91.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock worth $10,721,000 after acquiring an additional 126,375 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Merchants Bancorp by 441.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company’s stock worth $4,608,000 after acquiring an additional 87,012 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Merchants Bancorp during the 1st quarter worth $587,000. Allspring Global Investments Holdings LLC raised its position in shares of Merchants Bancorp by 75.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 142,553 shares of the company’s stock valued at $5,779,000 after purchasing an additional 61,292 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Merchants Bancorp by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 994,962 shares of the company’s stock valued at $42,962,000 after purchasing an additional 24,122 shares during the period. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, Vice Chairman Randall D. Rogers sold 75,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the completion of the transaction, the insider now owns 748,000 shares in the company, valued at $32,912,000. This trade represents a 9.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael F. Petrie sold 22,050 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the transaction, the chief executive officer now owns 1,990,545 shares of the company’s stock, valued at $90,251,310.30. This trade represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. 39.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MBIN. Morgan Stanley began coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price objective on the stock. Raymond James decreased their price objective on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Finally, Piper Sandler restated an “overweight” rating and set a $48.00 price objective (down from $56.00) on shares of Merchants Bancorp in a research report on Wednesday, October 30th.

Merchants Bancorp Stock Performance

MBIN opened at $40.19 on Friday. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 6.65 and a beta of 1.12. The company has a fifty day moving average of $42.87 and a 200 day moving average of $42.94. Merchants Bancorp has a fifty-two week low of $32.52 and a fifty-two week high of $53.27. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.78 and a current ratio of 1.15.

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

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.