Bank of New York Mellon Corp Acquires 71,775 Shares of Merchants Bancorp $MBIN

Bank of New York Mellon Corp increased its stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 43.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 236,146 shares of the company's stock after purchasing an additional 71,775 shares during the period. Bank of New York Mellon Corp owned approximately 0.51% of Merchants Bancorp worth $10,133,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Merchants Bancorp by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,656,898 shares of the company's stock worth $56,433,000 after purchasing an additional 54,970 shares during the period. Vanguard Group Inc. grew its position in Merchants Bancorp by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 1,414,584 shares of the company's stock valued at $48,181,000 after buying an additional 36,184 shares during the period. Geode Capital Management LLC increased its holdings in Merchants Bancorp by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 715,394 shares of the company's stock valued at $24,371,000 after buying an additional 18,925 shares during the last quarter. State Street Corp increased its holdings in Merchants Bancorp by 4.7% during the fourth quarter. State Street Corp now owns 574,086 shares of the company's stock valued at $19,609,000 after buying an additional 25,823 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in Merchants Bancorp by 7.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 389,878 shares of the company's stock worth $12,398,000 after acquiring an additional 27,358 shares during the period. Institutional investors own 24.57% of the company's stock.

Insider Activity at Merchants Bancorp

In related news, Director Julia L. Kaercher sold 9,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $55.20, for a total value of $496,800.00. Following the transaction, the director owned 727,103 shares of the company's stock, valued at $40,136,085.60. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 44.90% of the company's stock.

Merchants Bancorp Stock Down 0.6%

Shares of NASDAQ MBIN opened at $55.18 on Friday. The firm's 50-day moving average price is $48.87 and its 200-day moving average price is $45.35. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 11.08 and a beta of 1.14. Merchants Bancorp has a 12-month low of $28.75 and a 12-month high of $56.87.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.26. The company had revenue of $182.22 million during the quarter, compared to the consensus estimate of $179.00 million. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%. On average, equities research analysts anticipate that Merchants Bancorp will post 5.58 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, June 15th. Merchants Bancorp's dividend payout ratio is currently 8.84%.

Wall Street Analysts Forecast Growth

MBIN has been the topic of several analyst reports. Morgan Stanley reiterated a "positive" rating and set a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a research report on Monday, June 29th. Piper Sandler restated an "overweight" rating and issued a $64.00 price target on shares of Merchants Bancorp in a research report on Wednesday. Weiss Ratings raised Merchants Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. Raymond James Financial cut Merchants Bancorp from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 1st. Finally, Zacks Research downgraded Merchants Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $51.50.

Merchants Bancorp Profile

Merchants Bancorp NASDAQ: MBIN is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company's primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.

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