Deutsche Bank AG Buys 26,022 Shares of Merchants Bancorp $MBIN

Key Points

• Deutsche Bank AG increased its stake in Merchants Bancorp by 167.1% during the first quarter, owning 41,595 shares valued at approximately $1.54 million.
• Merchants Bancorp announced a quarterly dividend of $0.10 per share, representing an annualized yield of 1.2% and a payout ratio of 8.79%.
• Analysts have set new price targets for Merchants Bancorp, with a consensus rating of "Moderate Buy" and an average target price of around $38.33.

Deutsche Bank AG boosted its position in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 167.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,595 shares of the company's stock after purchasing an additional 26,022 shares during the period. Deutsche Bank AG owned 0.09% of Merchants Bancorp worth $1,539,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MBIN. Signaturefd LLC increased its holdings in Merchants Bancorp by 182.2% in the 1st quarter. Signaturefd LLC now owns 731 shares of the company's stock worth $27,000 after purchasing an additional 472 shares in the last quarter. CWM LLC increased its holdings in Merchants Bancorp by 168.9% in the 1st quarter. CWM LLC now owns 1,358 shares of the company's stock worth $50,000 after purchasing an additional 853 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Merchants Bancorp in the 4th quarter worth about $79,000. Tower Research Capital LLC TRC increased its holdings in Merchants Bancorp by 118.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,559 shares of the company's stock worth $130,000 after purchasing an additional 1,933 shares in the last quarter. Finally, Matrix Trust Co increased its holdings in Merchants Bancorp by 45.0% in the 1st quarter. Matrix Trust Co now owns 3,830 shares of the company's stock worth $142,000 after purchasing an additional 1,188 shares in the last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.

Insider Activity at Merchants Bancorp

In other news, CAO Darin L. Thomas purchased 3,353 shares of the business's stock in a transaction on Friday, August 22nd. The shares were acquired at an average price of $29.71 per share, for a total transaction of $99,617.63. Following the completion of the acquisition, the chief accounting officer owned 2,250 shares in the company, valued at approximately $66,847.50. The trade was a -303.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 34.80% of the stock is currently owned by insiders.

Merchants Bancorp Trading Down 1.3%

Shares of Merchants Bancorp stock traded down $0.43 on Thursday, hitting $32.54. 144,886 shares of the company's stock traded hands, compared to its average volume of 228,187. Merchants Bancorp has a one year low of $27.25 and a one year high of $47.42. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.20 and a quick ratio of 0.88. The company has a fifty day moving average of $33.15 and a two-hundred day moving average of $34.41. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 7.15 and a beta of 1.30.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.52). Merchants Bancorp had a net margin of 18.06% and a return on equity of 16.06%. The business had revenue of $179.20 million for the quarter, compared to the consensus estimate of $161.10 million. As a group, sell-side analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, September 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. Merchants Bancorp's dividend payout ratio is presently 8.79%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MBIN. Piper Sandler reaffirmed an "overweight" rating and issued a $41.00 target price (down previously from $42.00) on shares of Merchants Bancorp in a report on Wednesday, July 30th. Morgan Stanley decreased their price target on Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 29th. Raymond James Financial reissued an "outperform" rating and issued a $40.00 price target (down previously from $41.00) on shares of Merchants Bancorp in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut Merchants Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

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.