Denali Advisors LLC Grows Position in Merchants Bancorp (NASDAQ:MBIN)

Denali Advisors LLC raised its stake in Merchants Bancorp (NASDAQ:MBIN) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,313 shares of the company’s stock after purchasing an additional 680 shares during the quarter. Denali Advisors LLC owned about 0.19% of Merchants Bancorp worth $3,511,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Federated Hermes Inc. raised its stake in shares of Merchants Bancorp by 42,253.6% during the fourth quarter. Federated Hermes Inc. now owns 217,274 shares of the company’s stock valued at $9,252,000 after purchasing an additional 216,761 shares during the period. Dimensional Fund Advisors LP increased its stake in Merchants Bancorp by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 795,381 shares of the company’s stock worth $33,869,000 after buying an additional 102,051 shares during the period. Sapient Capital LLC acquired a new position in Merchants Bancorp in the 4th quarter worth $3,414,000. Assenagon Asset Management S.A. boosted its position in Merchants Bancorp by 129.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 126,877 shares of the company’s stock valued at $5,402,000 after buying an additional 71,632 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Merchants Bancorp during the fourth quarter valued at about $2,658,000. 24.57% of the stock is owned by hedge funds and other institutional investors.

Merchants Bancorp Stock Down 0.9 %

MBIN traded down $0.37 during trading on Wednesday, reaching $40.76. 57,580 shares of the stock traded hands, compared to its average volume of 164,705. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 6.40 and a beta of 1.12. The stock’s 50-day simple moving average is $41.41 and its two-hundred day simple moving average is $41.48. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.06 and a quick ratio of 0.81. Merchants Bancorp has a fifty-two week low of $24.46 and a fifty-two week high of $48.68.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings data on Monday, April 29th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.43. The business had revenue of $355.05 million for the quarter, compared to analyst estimates of $144.15 million. Merchants Bancorp had a return on equity of 26.65% and a net margin of 23.55%. As a group, equities research analysts expect that Merchants Bancorp will post 6.38 EPS for the current year.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a $0.09 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.36 annualized dividend and a yield of 0.88%. Merchants Bancorp’s dividend payout ratio (DPR) is currently 5.65%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Raymond James reaffirmed a “strong-buy” rating and set a $55.00 price objective on shares of Merchants Bancorp in a research report on Wednesday, May 15th. Piper Sandler reaffirmed an “overweight” rating and set a $56.00 target price (down from $58.50) on shares of Merchants Bancorp in a report on Friday, May 17th.

Merchants Bancorp 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.