Federated Hermes Inc. Sells 244,762 Shares of Merchants Bancorp (NASDAQ:MBIN)

Federated Hermes Inc. lessened its holdings in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 91.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,656 shares of the company's stock after selling 244,762 shares during the period. Federated Hermes Inc.'s holdings in Merchants Bancorp were worth $790,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MBIN. Kestra Investment Management LLC acquired a new stake in Merchants Bancorp during the 4th quarter worth approximately $25,000. Bank of Jackson Hole Trust bought a new stake in shares of Merchants Bancorp during the fourth quarter worth $82,000. Matrix Trust Co raised its holdings in shares of Merchants Bancorp by 730.8% during the fourth quarter. Matrix Trust Co now owns 2,642 shares of the company's stock worth $96,000 after acquiring an additional 2,324 shares during the period. FMR LLC lifted its position in Merchants Bancorp by 214.5% in the 3rd quarter. FMR LLC now owns 3,957 shares of the company's stock valued at $178,000 after acquiring an additional 2,699 shares in the last quarter. Finally, Inceptionr LLC lifted its position in Merchants Bancorp by 13.7% in the 4th quarter. Inceptionr LLC now owns 5,718 shares of the company's stock valued at $209,000 after acquiring an additional 687 shares in the last quarter. Institutional investors own 24.57% of the company's stock.

Merchants Bancorp Stock Down 4.5 %

Shares of Merchants Bancorp stock traded down $1.46 during trading hours on Monday, reaching $31.06. 144,693 shares of the company's stock were exchanged, compared to its average volume of 190,468. The stock has a market cap of $1.42 billion, a P/E ratio of 4.92 and a beta of 1.15. The company has a 50 day moving average of $37.44 and a two-hundred day moving average of $39.01. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. Merchants Bancorp has a fifty-two week low of $30.73 and a fifty-two week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. On average, sell-side analysts forecast that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.10 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.29%. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.09. Merchants Bancorp's dividend payout ratio (DPR) is currently 6.34%.

Insider Activity

In other news, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the completion of the transaction, the insider now directly owns 27,606 shares in the company, valued at approximately $1,189,818.60. The trade was a 47.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 34.80% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MBIN. Morgan Stanley dropped their price target on Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Piper Sandler increased their price objective on Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, Raymond James cut their target price on Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd.

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.