Merchants Bancorp (NASDAQ:MBIN) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its position in Merchants Bancorp (NASDAQ:MBIN) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,841 shares of the company’s stock after acquiring an additional 4,485 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.20% of Merchants Bancorp worth $3,276,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP increased its stake in Merchants Bancorp by 143.1% in the third quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock valued at $22,039,000 after purchasing an additional 288,553 shares during the last quarter. Elser Financial Planning Inc purchased a new position in Merchants Bancorp in the fourth quarter valued at approximately $994,207,000. State Street Corp increased 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 purchasing an additional 20,214 shares during the last quarter. Geode Capital Management LLC increased its stake in Merchants Bancorp by 3.0% in the third quarter. Geode Capital Management LLC now owns 566,520 shares of the company’s stock valued at $25,476,000 after purchasing an additional 16,666 shares during the last quarter. Finally, Barclays PLC increased its stake in Merchants Bancorp by 351.8% in the third quarter. Barclays PLC now owns 28,312 shares of the company’s stock valued at $1,273,000 after purchasing an additional 22,046 shares during the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Insider Activity at Merchants Bancorp

In related news, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total value of $1,077,500.00. Following the transaction, the insider now directly owns 27,606 shares in the company, valued at $1,189,818.60. This trade represents a 47.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 39.70% of the stock is currently owned by insiders.

Merchants Bancorp Stock Performance

Shares of MBIN opened at $42.71 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The firm has a market cap of $1.95 billion, a PE ratio of 6.77 and a beta of 1.15. The company’s 50 day simple moving average is $39.01 and its 200-day simple moving average is $41.18. Merchants Bancorp has a 12-month low of $34.16 and a 12-month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. As a group, equities analysts predict that Merchants Bancorp will post 5.54 EPS for the current year.

Merchants Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.10 per share. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.94%. Merchants Bancorp’s dividend payout ratio (DPR) is 5.71%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Piper Sandler increased their price target on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Raymond James reiterated an “outperform” rating and issued a $53.00 price target (up from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th.

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.