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

Federated Hermes Inc. raised its stake in Merchants Bancorp (NASDAQ:MBIN - Free Report) by 42,253.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 217,274 shares of the company's stock after purchasing an additional 216,761 shares during the quarter. Federated Hermes Inc. owned 0.50% of Merchants Bancorp worth $9,252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Merchants Bancorp by 1.4% in the third quarter. Vanguard Group Inc. now owns 944,185 shares of the company's stock valued at $26,173,000 after purchasing an additional 12,628 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Merchants Bancorp by 11.0% during the third quarter. American Century Companies Inc. now owns 188,603 shares of the company's stock valued at $5,228,000 after buying an additional 18,693 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Merchants Bancorp by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 185,332 shares of the company's stock valued at $5,137,000 after buying an additional 10,211 shares during the period. Seizert Capital Partners LLC increased its stake in shares of Merchants Bancorp by 3.1% during the third quarter. Seizert Capital Partners LLC now owns 143,601 shares of the company's stock valued at $3,981,000 after buying an additional 4,261 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Merchants Bancorp by 129.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 126,877 shares of the company's stock valued at $5,402,000 after buying an additional 71,632 shares during the period. Institutional investors own 24.57% of the company's stock.

Analysts Set New Price Targets

Separately, Raymond James boosted their target price on Merchants Bancorp from $44.00 to $55.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 30th.

Merchants Bancorp Trading Down 3.9 %

Shares of MBIN traded down $1.59 during mid-day trading on Thursday, hitting $39.34. 122,102 shares of the company's stock traded hands, compared to its average volume of 120,086. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. Merchants Bancorp has a 1 year low of $21.50 and a 1 year high of $48.68. The firm has a market capitalization of $1.71 billion, a P/E ratio of 6.98 and a beta of 1.18. The business's 50-day moving average price is $41.31 and its 200-day moving average price is $38.12.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last issued its quarterly earnings results on Monday, January 29th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.14. The company had revenue of $346.21 million for the quarter, compared to analysts' expectations of $142.65 million. Merchants Bancorp had a return on equity of 25.38% and a net margin of 23.42%. As a group, sell-side analysts forecast that Merchants Bancorp will post 5.65 EPS for the current fiscal year.

Merchants Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.92%. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, March 14th. Merchants Bancorp's dividend 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.