Federated Hermes Inc. Lowers Stock Holdings in Merchants Bancorp (NASDAQ:MBIN)

Key Points

• Federated Hermes Inc. reduced its stake in Merchants Bancorp by 42.7%, owning 12,409 shares after selling 9,247 during the first quarter.
• Various institutional investors adjusted their holdings, including JPMorgan Chase & Co. increasing its stake by 25.2%.
• Merchants Bancorp reported $0.60 earnings per share for the last quarter, missing expectations of $1.12, while its revenue surpassed estimates at $179.20 million.

Federated Hermes Inc. lowered its position in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 42.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,409 shares of the company's stock after selling 9,247 shares during the period. Federated Hermes Inc.'s holdings in Merchants Bancorp were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of MBIN. Dimensional Fund Advisors LP boosted its position in Merchants Bancorp by 11.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,109 shares of the company's stock worth $46,211,000 after purchasing an additional 132,841 shares in the last quarter. Royce & Associates LP raised its stake in shares of Merchants Bancorp by 21.2% during the 1st quarter. Royce & Associates LP now owns 686,507 shares of the company's stock worth $25,401,000 after buying an additional 120,262 shares during the period. Banc Funds Co. LLC raised its stake in shares of Merchants Bancorp by 2.8% during the 4th quarter. Banc Funds Co. LLC now owns 400,615 shares of the company's stock worth $14,610,000 after buying an additional 11,000 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Merchants Bancorp by 25.2% during the 4th quarter. JPMorgan Chase & Co. now owns 280,942 shares of the company's stock worth $10,246,000 after buying an additional 56,514 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Merchants Bancorp by 7.1% during the 4th quarter. Marshall Wace LLP now owns 246,879 shares of the company's stock worth $9,004,000 after buying an additional 16,425 shares during the period. Hedge funds and other institutional investors own 24.57% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on MBIN shares. Raymond James Financial reaffirmed an "outperform" rating and set a $40.00 target price (down from $41.00) on shares of Merchants Bancorp in a research note on Tuesday, July 29th. Wall Street Zen downgraded Merchants Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $41.00 target price (down previously from $42.00) on shares of Merchants Bancorp in a research note on Wednesday, July 30th. Finally, Morgan Stanley lowered their price target on shares of Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 29th.

Merchants Bancorp Trading Up 0.5%

NASDAQ:MBIN traded up $0.15 during trading hours on Monday, hitting $30.89. The company had a trading volume of 96,294 shares, compared to its average volume of 177,876. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $47.94. The company has a market cap of $1.42 billion, a P/E ratio of 6.79 and a beta of 1.30. The company has a 50-day moving average of $32.98 and a 200 day moving average of $35.22. The company has a current ratio of 1.20, a quick ratio of 0.88 and a debt-to-equity ratio of 2.49.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($0.52). Merchants Bancorp had a return on equity of 16.26% and a net margin of 18.06%. The company had revenue of $179.20 million during the quarter, compared to analyst estimates of $161.10 million. Sell-side analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, June 13th. Merchants Bancorp's dividend payout ratio (DPR) is presently 8.79%.

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.