Allspring Global Investments Holdings LLC Reduces Position in Merchants Bancorp (NASDAQ:MBIN)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 40.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,356 shares of the company’s stock after selling 57,197 shares during the period. Allspring Global Investments Holdings LLC owned 0.20% of Merchants Bancorp worth $3,838,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in Merchants Bancorp by 91.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock valued at $10,721,000 after purchasing an additional 126,375 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Merchants Bancorp by 441.6% in 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 acquired a new position in shares of Merchants Bancorp in the 1st quarter worth approximately $587,000. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 24,122 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Merchants Bancorp by 139.9% in the 2nd quarter. Millennium Management LLC now owns 91,579 shares of the company’s stock worth $3,713,000 after acquiring an additional 53,401 shares during the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Analyst Upgrades and Downgrades

MBIN has been the topic of a number of research reports. Morgan Stanley started 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. Raymond James downgraded shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and increased their target price for the company from $55.00 to $58.00 in a research report on Tuesday, July 30th.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, CEO Michael F. Petrie sold 22,050 shares of the business’s 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 completion of the sale, the chief executive officer now owns 1,990,545 shares in the company, valued at $90,251,310.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael R. Dury acquired 5,200 shares of Merchants Bancorp stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $38.71 per share, with a total value of $201,292.00. Following the completion of the purchase, the chief executive officer now owns 93,793 shares of the company’s stock, valued at $3,630,727.03. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael F. Petrie sold 22,050 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the sale, the chief executive officer now directly owns 1,990,545 shares of the company’s stock, valued at $90,251,310.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.70% of the stock is owned by insiders.

Merchants Bancorp Price Performance

Merchants Bancorp stock opened at $43.89 on Tuesday. Merchants Bancorp has a 1 year low of $28.99 and a 1 year high of $53.27. The firm has a 50 day moving average price of $44.52 and a 200 day moving average price of $42.99. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 6.92 and a beta of 1.09. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.01.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Monday, July 29th. The company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.08). Merchants Bancorp had a net margin of 23.14% and a return on equity of 25.54%. The business had revenue of $359.62 million for the quarter, compared to analyst estimates of $160.70 million. During the same period last year, the firm earned $1.31 earnings per share. Sell-side analysts predict that Merchants Bancorp will post 6.08 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.82%. Merchants Bancorp’s dividend payout ratio (DPR) is presently 5.65%.

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.