Royce & Associates LP Buys 288,553 Shares of Merchants Bancorp (NASDAQ:MBIN)

Royce & Associates LP grew its position in shares of Merchants Bancorp (NASDAQ:MBIN - Free Report) by 143.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 490,189 shares of the company's stock after buying an additional 288,553 shares during the quarter. Royce & Associates LP owned approximately 1.07% of Merchants Bancorp worth $22,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. CWM LLC raised its holdings in shares of Merchants Bancorp by 209.4% during the 3rd quarter. CWM LLC now owns 1,284 shares of the company's stock valued at $58,000 after purchasing an additional 869 shares in the last quarter. nVerses Capital LLC raised its holdings in Merchants Bancorp by 650.0% during the second quarter. nVerses Capital LLC now owns 1,500 shares of the company's stock valued at $61,000 after buying an additional 1,300 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Merchants Bancorp in the third quarter worth about $162,000. Point72 Asset Management L.P. boosted its stake in shares of Merchants Bancorp by 54.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company's stock worth $163,000 after acquiring an additional 1,412 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Merchants Bancorp by 79.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company's stock valued at $193,000 after acquiring an additional 2,101 shares during the last quarter. Institutional investors own 24.57% of the company's stock.

Merchants Bancorp Stock Performance

MBIN traded down $0.18 during midday trading on Friday, reaching $40.19. The company's stock had a trading volume of 96,596 shares, compared to its average volume of 179,503. The company has a current ratio of 1.15, a quick ratio of 0.78 and a debt-to-equity ratio of 2.40. The company has a fifty day simple moving average of $42.80 and a 200 day simple moving average of $42.95. The stock has a market cap of $1.84 billion, a P/E ratio of 6.65 and a beta of 1.12. Merchants Bancorp has a twelve month low of $32.52 and a twelve month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The business had revenue of $355.67 million during the quarter, compared to the consensus estimate of $156.13 million. During the same period in the prior year, the company posted $1.68 earnings per share. Research analysts expect that Merchants Bancorp will post 5.77 earnings per share for the current year.

Insiders Place Their Bets

In other Merchants Bancorp news, Vice Chairman Randall D. Rogers sold 75,000 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $44.00, for a total value of $3,300,000.00. Following the completion of the sale, the insider now owns 748,000 shares in the company, valued at approximately $32,912,000. This trade represents a 9.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Petrie sold 22,050 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total value of $999,747.00. Following the sale, the chief executive officer now owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. This represents a 1.10 % 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.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley began coverage on Merchants Bancorp in a research report on Monday, September 9th. They set an "equal weight" rating and a $54.00 target price for the company. Piper Sandler reaffirmed an "overweight" rating and set a $48.00 price objective (down from $56.00) on shares of Merchants Bancorp in a report on Wednesday, October 30th. Finally, Raymond James dropped their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, October 29th.

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.