Merchants Bancorp (NASDAQ:MBIN) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 566,520 shares of the company’s stock after acquiring an additional 16,666 shares during the period. Geode Capital Management LLC owned 1.24% of Merchants Bancorp worth $25,476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MBIN. Allspring Global Investments Holdings LLC increased its stake in Merchants Bancorp by 75.4% in the second 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 last quarter. Royce & Associates LP grew its position in shares of Merchants Bancorp by 143.1% in the 3rd quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock valued at $22,039,000 after buying an additional 288,553 shares during the last quarter. Millennium Management LLC raised its stake in Merchants Bancorp by 139.9% during 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 in the last quarter. FMR LLC lifted its position in Merchants Bancorp by 214.5% in the third quarter. FMR LLC now owns 3,957 shares of the company’s stock valued at $178,000 after acquiring an additional 2,699 shares during the last quarter. Finally, State Street Corp boosted its stake in Merchants Bancorp by 4.7% in the third quarter. State Street Corp now owns 448,525 shares of the company’s stock valued at $20,205,000 after acquiring an additional 20,214 shares in the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Stock Performance

NASDAQ MBIN opened at $36.34 on Friday. The firm has a market cap of $1.66 billion, a P/E ratio of 6.02 and a beta of 1.13. Merchants Bancorp has a 52-week low of $35.56 and a 52-week high of $53.27. The business’s 50-day moving average price is $39.40 and its 200 day moving average price is $42.20. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN) last announced 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). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The company had revenue of $355.67 million during the quarter, compared to analysts’ expectations of $156.13 million. During the same quarter last year, the business posted $1.68 earnings per share. On average, equities research analysts expect that Merchants Bancorp will post 5.74 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.09 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.99%. Merchants Bancorp’s dividend payout ratio is currently 5.96%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MBIN shares. Morgan Stanley started coverage on Merchants Bancorp in a research report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 target price for the company. Piper Sandler increased their price objective on Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Raymond James cut their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th.

Insiders Place Their Bets

In other Merchants Bancorp news, Director Patrick D. O’brien acquired 40,000 shares of the stock in a transaction on Monday, November 18th. The shares were bought at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the acquisition, the director now owns 40,000 shares of the company’s stock, valued at $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 39.70% of the stock is owned by insiders.

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.