Deutsche Bank AG Invests $5.28 Million in Merchants Bancorp $MBIN

Key Points

• Deutsche Bank acquired 105,673 shares of Merchants Bancorp in the second quarter, worth approximately $5.28 million and representing about 0.23% of the company. Hedge funds and other institutional investors collectively own 24.57% of MBIN.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $51.50. Recent ratings included a Zacks upgrade to “Strong Buy,” while Raymond James downgraded the stock to “Market Perform.”
• Merchants Bancorp exceeded quarterly expectations, reporting $1.48 EPS versus the $1.22 consensus and revenue of $182.22 million. The company also declared a quarterly dividend of $0.11 per share, equal to a 0.8% annualized yield.

Deutsche Bank AG acquired a new position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 105,673 shares of the company's stock, valued at approximately $5,284,000. Deutsche Bank AG owned about 0.23% of Merchants Bancorp at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in Merchants Bancorp by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company's stock worth $73,000 after buying an additional 1,153 shares during the period. Gamco Investors INC. ET AL acquired a new stake in shares of Merchants Bancorp during the first quarter valued at about $215,000. Brevan Howard Capital Management LP raised its stake in shares of Merchants Bancorp by 16.7% in the 2nd quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company's stock valued at $228,000 after acquiring an additional 984 shares during the period. Numerai GP LLC purchased a new stake in shares of Merchants Bancorp in the 4th quarter valued at approximately $254,000. Finally, Caxton Associates LLP acquired a new position in shares of Merchants Bancorp in the 3rd quarter worth approximately $256,000. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Zacks Research upgraded shares of Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, July 31st. Piper Sandler restated an "overweight" rating and set a $64.00 price target on shares of Merchants Bancorp in a research note on Wednesday, July 29th. Raymond James Financial lowered Merchants Bancorp from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 1st. Morgan Stanley reaffirmed a "positive" rating and issued a $49.00 price objective (up from $46.00) on shares of Merchants Bancorp in a research note on Monday, June 29th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Merchants Bancorp in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Merchants Bancorp currently has a consensus rating of "Buy" and a consensus target price of $51.50.

Insider Transactions at Merchants Bancorp

In related news, Director Julia L. Kaercher sold 9,000 shares of Merchants Bancorp stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $55.20, for a total value of $496,800.00. Following the completion of the transaction, the director owned 727,103 shares in the company, valued at $40,136,085.60. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 44.90% of the stock is owned by corporate insiders.

Merchants Bancorp Price Performance

Shares of NASDAQ MBIN opened at $54.08 on Tuesday. The stock's 50-day moving average is $51.08 and its two-hundred day moving average is $47.43. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.21 and a quick ratio of 0.89. Merchants Bancorp has a 1-year low of $30.37 and a 1-year high of $56.87. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 10.86 and a beta of 1.14.

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

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.44 annualized dividend and a yield of 0.8%. Merchants Bancorp's dividend payout ratio (DPR) is 8.84%.

Merchants Bancorp Company 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.

Want to see what other hedge funds are holding MBIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merchants Bancorp (NASDAQ:MBIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.