Allspring Global Investments Holdings LLC Trims Stock Position in Merchants Bancorp (NASDAQ:MBIN)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 40.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,356 shares of the company's stock after selling 57,197 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.20% of Merchants Bancorp worth $3,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Raymond James & Associates raised its holdings in shares of Merchants Bancorp by 16.0% during the third quarter. Raymond James & Associates now owns 64,238 shares of the company's stock worth $2,888,000 after purchasing an additional 8,873 shares during the last quarter. Twelve Points Wealth Management LLC grew its position in Merchants Bancorp by 3.5% during the third quarter. Twelve Points Wealth Management LLC now owns 34,012 shares of the company's stock valued at $1,529,000 after buying an additional 1,166 shares during the period. CWM LLC grew its position in Merchants Bancorp by 209.4% during the third quarter. CWM LLC now owns 1,284 shares of the company's stock valued at $58,000 after buying an additional 869 shares during the period. SG Americas Securities LLC grew its position in Merchants Bancorp by 80.2% during the third quarter. SG Americas Securities LLC now owns 9,499 shares of the company's stock valued at $427,000 after buying an additional 4,227 shares during the period. Finally, Point72 Asset Management L.P. grew its position in Merchants Bancorp by 54.3% during the second quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company's stock valued at $163,000 after buying an additional 1,412 shares during the period. Hedge funds and other institutional investors own 24.57% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MBIN. Raymond James dropped their price target on shares of Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating on the stock in a research report on Tuesday. Morgan Stanley began coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They set an "equal weight" rating and a $54.00 price target on the stock.

Insider Activity

In related news, CEO Michael R. Dury bought 6,000 shares of the company's stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average price of $44.82 per share, for a total transaction of $268,920.00. Following the completion of the transaction, the chief executive officer now directly owns 88,593 shares in the company, valued at $3,970,738.26. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Merchants Bancorp news, CEO Michael R. Dury purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were purchased at an average cost of $44.82 per share, for a total transaction of $268,920.00. Following the completion of the transaction, the chief executive officer now owns 88,593 shares of the company's stock, valued at $3,970,738.26. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael F. Petrie sold 22,050 shares of the business's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $999,747.00. Following the transaction, the chief executive officer now owns 1,990,545 shares in the company, valued at $90,251,310.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 39.70% of the company's stock.

Merchants Bancorp Price Performance

Shares of NASDAQ MBIN traded down $7.86 during trading on Tuesday, hitting $36.03. The company had a trading volume of 654,141 shares, compared to its average volume of 179,420. The stock has a fifty day simple moving average of $44.53 and a two-hundred day simple moving average of $43.02. Merchants Bancorp has a fifty-two week low of $28.99 and a fifty-two week high of $53.27. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 6.14 and a beta of 1.09. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.81.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its earnings results on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a net margin of 23.14% and a return on equity of 25.54%. The company had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. During the same quarter last year, the business earned $1.68 EPS. On average, research analysts expect that Merchants Bancorp will post 6.08 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.00%. Merchants Bancorp's dividend payout ratio (DPR) is 5.65%.

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.