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

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

Several other large investors have also recently bought and sold shares of MBIN. Elser Financial Planning Inc acquired a new position in shares of Merchants Bancorp during the fourth quarter valued at about $994,207,000. PL Capital Advisors LLC lifted its position in shares of Merchants Bancorp by 3,547.0% in the 4th quarter. PL Capital Advisors LLC now owns 6,867,082 shares of the company's stock worth $250,442,000 after acquiring an additional 6,678,788 shares during the period. Geode Capital Management LLC lifted its position in shares of Merchants Bancorp by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 566,520 shares of the company's stock worth $25,476,000 after acquiring an additional 16,666 shares during the period. Royce & Associates LP grew its holdings in shares of Merchants Bancorp by 15.5% during the 4th quarter. Royce & Associates LP now owns 566,245 shares of the company's stock worth $20,651,000 after purchasing an additional 76,056 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Merchants Bancorp by 11.5% during the fourth quarter. American Century Companies Inc. now owns 474,904 shares of the company's stock valued at $17,320,000 after purchasing an additional 48,881 shares during the period. 24.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MBIN shares. Raymond James reduced their target price on Merchants Bancorp from $53.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Piper Sandler raised their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, Morgan Stanley lowered their target price on shares of 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.

Merchants Bancorp Price Performance

Merchants Bancorp stock traded up $0.47 during mid-day trading on Friday, hitting $32.52. 96,172 shares of the company were exchanged, compared to its average volume of 190,299. The business has a fifty day moving average of $37.66 and a 200 day moving average of $39.16. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. Merchants Bancorp has a 1-year low of $31.06 and a 1-year high of $53.27. The company has a market capitalization of $1.49 billion, a PE ratio of 5.15 and a beta of 1.15.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. As a group, sell-side analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, March 14th. This is a boost from Merchants Bancorp's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.23%. Merchants Bancorp's payout ratio is 6.34%.

Insider Activity at Merchants Bancorp

In other news, insider Scott A. Evans sold 25,000 shares of the company's stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total value of $1,077,500.00. Following the completion of the sale, the insider now directly owns 27,606 shares of the company's stock, valued at $1,189,818.60. This represents a 47.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 34.80% of the stock is currently owned by corporate insiders.

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.