Assenagon Asset Management S.A. Increases Stock Holdings in Merchants Bancorp (NASDAQ:MBIN)

Assenagon Asset Management S.A. raised its stake in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 129.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,877 shares of the company's stock after buying an additional 71,632 shares during the quarter. Assenagon Asset Management S.A. owned about 0.29% of Merchants Bancorp worth $5,402,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MBIN. FMR LLC increased its holdings in shares of Merchants Bancorp by 43.4% in the 1st quarter. FMR LLC now owns 1,507 shares of the company's stock worth $39,000 after purchasing an additional 456 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Merchants Bancorp by 1,150.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,140 shares of the company's stock worth $115,000 after purchasing an additional 3,809 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Merchants Bancorp by 9.6% in the 1st quarter. Advisory Services Network LLC now owns 4,847 shares of the company's stock worth $126,000 after purchasing an additional 425 shares in the last quarter. Fairfield Bush & CO. bought a new stake in shares of Merchants Bancorp in the 2nd quarter worth $136,000. Finally, Legal & General Group Plc increased its holdings in shares of Merchants Bancorp by 6.0% in the 4th quarter. Legal & General Group Plc now owns 6,052 shares of the company's stock worth $147,000 after purchasing an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 24.57% of the company's stock.

Analysts Set New Price Targets

Separately, Raymond James lifted their price objective on Merchants Bancorp from $44.00 to $55.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 30th.

Merchants Bancorp Stock Performance

Shares of MBIN traded down $0.92 during trading hours on Monday, hitting $42.26. The stock had a trading volume of 74,894 shares, compared to its average volume of 122,292. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.77. Merchants Bancorp has a 12 month low of $21.50 and a 12 month high of $48.68. The firm has a market capitalization of $1.83 billion, a PE ratio of 7.49 and a beta of 1.18. The stock has a fifty day moving average price of $42.03 and a 200 day moving average price of $36.72.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings data on Monday, January 29th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.44 by $0.14. Merchants Bancorp had a return on equity of 25.38% and a net margin of 23.42%. The company had revenue of $346.21 million during the quarter, compared to analyst estimates of $142.65 million. Analysts anticipate that Merchants Bancorp will post 5.65 EPS for the current year.

Merchants Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be given a dividend of $0.09 per share. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, March 14th. Merchants Bancorp's payout ratio is presently 6.38%.

Merchants Bancorp Company 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.