Merchants Bancorp (NASDAQ:MBIN) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its position in Merchants Bancorp (NASDAQ:MBIN) by 51.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,712 shares of the company’s stock after acquiring an additional 38,453 shares during the period. Assenagon Asset Management S.A. owned 0.25% of Merchants Bancorp worth $4,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Matrix Trust Co increased its position in shares of Merchants Bancorp by 730.8% in the 4th quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock valued at $96,000 after acquiring an additional 2,324 shares during the period. Franklin Resources Inc. increased its position in shares of Merchants Bancorp by 85.3% in the 3rd quarter. Franklin Resources Inc. now owns 33,338 shares of the company’s stock valued at $1,504,000 after acquiring an additional 15,342 shares during the period. Barclays PLC increased its position in shares of Merchants Bancorp by 351.8% in the 3rd quarter. Barclays PLC now owns 28,312 shares of the company’s stock valued at $1,273,000 after acquiring an additional 22,046 shares during the period. Hohimer Wealth Management LLC acquired a new position in shares of Merchants Bancorp in the 3rd quarter valued at $202,000. Finally, Geode Capital Management LLC increased its position in shares of Merchants Bancorp by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 566,520 shares of the company’s stock valued at $25,476,000 after acquiring an additional 16,666 shares during the period. 24.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on MBIN. Piper Sandler upped their price target on shares of Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Raymond James lowered their price target 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.

Insider Transactions at Merchants Bancorp

In other news, Director Patrick D. O’brien bought 40,000 shares of the stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the purchase, the director now directly owns 40,000 shares in the company, valued at $1,000,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 39.70% of the company’s stock.

Merchants Bancorp Price Performance

NASDAQ:MBIN opened at $38.67 on Tuesday. Merchants Bancorp has a one year low of $34.16 and a one year high of $53.27. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 6.40 and a beta of 1.14. The firm’s fifty day moving average is $38.18 and its two-hundred day moving average is $41.82.

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 return on equity of 22.36% and a net margin of 21.33%. The firm had revenue of $355.67 million for the quarter, compared to analysts’ expectations of $156.13 million. During the same period in the previous year, the company earned $1.68 earnings per share. Research analysts expect that Merchants Bancorp will post 5.73 EPS for the current year.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, December 13th. Merchants Bancorp’s payout ratio is currently 5.96%.

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.