Royce & Associates LP Boosts Stock Holdings in Merchants Bancorp (NASDAQ:MBIN)

Royce & Associates LP raised its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 143.1% during the third quarter, HoldingsChannel reports. The firm owned 490,189 shares of the company’s stock after purchasing an additional 288,553 shares during the period. Royce & Associates LP’s holdings in Merchants Bancorp were worth $22,039,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Merchants Bancorp by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company’s stock worth $41,465,000 after buying an additional 94,781 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Merchants Bancorp by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 994,962 shares of the company’s stock worth $42,962,000 after buying an additional 24,122 shares during the last quarter. American Century Companies Inc. grew its position in shares of Merchants Bancorp by 23.0% in the 2nd quarter. American Century Companies Inc. now owns 370,257 shares of the company’s stock worth $15,010,000 after buying an additional 69,133 shares during the last quarter. Marshall Wace LLP grew its position in shares of Merchants Bancorp by 6,793.6% in the 2nd quarter. Marshall Wace LLP now owns 365,290 shares of the company’s stock worth $14,809,000 after buying an additional 359,991 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Merchants Bancorp by 91.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock worth $10,721,000 after buying an additional 126,375 shares during the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley started coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price objective on the stock. Raymond James lowered their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $48.00 target price (down from $56.00) on shares of Merchants Bancorp in a research note on Wednesday, October 30th.

Merchants Bancorp Stock Performance

Shares of NASDAQ MBIN opened at $40.19 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.78 and a debt-to-equity ratio of 2.40. The company has a 50 day simple moving average of $42.87 and a two-hundred day simple moving average of $42.94. Merchants Bancorp has a 12 month low of $32.52 and a 12 month high of $53.27. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 6.65 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The firm had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. During the same quarter in the prior year, the firm earned $1.68 earnings per share. As a group, analysts predict that Merchants Bancorp will post 5.77 earnings per share for the current year.

Insider Activity at Merchants Bancorp

In related news, Vice Chairman Randall D. Rogers sold 75,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total value of $3,300,000.00. Following the completion of the sale, the insider now owns 748,000 shares of the company’s stock, valued at approximately $32,912,000. The trade was a 9.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael F. Petrie sold 22,050 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $999,747.00. Following the completion of the sale, the chief executive officer now directly owns 1,990,545 shares of the company’s stock, valued at approximately $90,251,310.30. The trade was a 1.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 39.70% of the company’s stock.

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.