Merchants Bancorp (NASDAQ:MBIN) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 71.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,259 shares of the company's stock after selling 190,205 shares during the quarter. Assenagon Asset Management S.A. owned 0.17% of Merchants Bancorp worth $3,339,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Marshall Wace LLP lifted its holdings in Merchants Bancorp by 6,793.6% during the 2nd quarter. Marshall Wace LLP now owns 365,290 shares of the company's stock valued at $14,809,000 after buying an additional 359,991 shares in the last quarter. Ovata Capital Management Ltd purchased a new position in Merchants Bancorp during the 2nd quarter worth $4,054,000. Dimensional Fund Advisors LP lifted its holdings in shares of Merchants Bancorp by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company's stock worth $41,465,000 after buying an additional 94,781 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Merchants Bancorp by 441.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company's stock valued at $4,608,000 after buying an additional 87,012 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Merchants Bancorp by 23.0% in the second quarter. American Century Companies Inc. now owns 370,257 shares of the company's stock valued at $15,010,000 after acquiring an additional 69,133 shares in the last quarter. 24.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MBIN shares. Morgan Stanley began coverage on shares of Merchants Bancorp in a report on Monday, September 9th. They issued an "equal weight" rating and a $54.00 price target for the company. Raymond James reduced their price objective on shares of Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Piper Sandler restated an "overweight" rating and set a $48.00 target price (down previously from $56.00) on shares of Merchants Bancorp in a report on Wednesday.

Insiders Place Their Bets

In other news, CEO Michael F. Petrie sold 22,050 shares of the company's stock in a transaction dated Tuesday, August 27th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Michael F. Petrie sold 22,050 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the sale, the chief executive officer now directly owns 1,990,545 shares of the company's stock, valued at $90,251,310.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael R. Dury bought 5,200 shares of Merchants Bancorp stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $38.71 per share, with a total value of $201,292.00. Following the purchase, the chief executive officer now directly owns 93,793 shares in the company, valued at $3,630,727.03. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 39.70% of the company's stock.

Merchants Bancorp Stock Up 2.7 %

Shares of Merchants Bancorp stock traded up $0.98 on Thursday, reaching $36.94. The stock had a trading volume of 117,737 shares, compared to its average volume of 179,318. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $1.60 billion, a P/E ratio of 5.65 and a beta of 1.09. The company has a 50 day moving average price of $44.21 and a 200 day moving average price of $42.95. Merchants Bancorp has a 1 year low of $29.60 and a 1 year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last released its quarterly 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 return on equity of 25.54% and a net margin of 23.14%. The firm had revenue of $355.67 million during the quarter, compared to analysts' expectations of $156.13 million. During the same period in the prior year, the firm posted $1.68 earnings per share. As a group, equities research analysts forecast that Merchants Bancorp will post 6.08 EPS for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Friday, September 13th. Merchants Bancorp's dividend payout ratio (DPR) is presently 5.65%.

About Merchants Bancorp

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.