Denali Advisors LLC Has $3.51 Million Position in Merchants Bancorp (NASDAQ:MBIN)

Denali Advisors LLC increased its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 0.8% in the first quarter, Holdings Channel.com reports. The firm owned 81,313 shares of the company’s stock after buying an additional 680 shares during the quarter. Denali Advisors LLC’s holdings in Merchants Bancorp were worth $3,511,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in shares of Merchants Bancorp by 42,253.6% during the fourth quarter. Federated Hermes Inc. now owns 217,274 shares of the company’s stock worth $9,252,000 after buying an additional 216,761 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Merchants Bancorp by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 795,381 shares of the company’s stock worth $33,869,000 after acquiring an additional 102,051 shares during the last quarter. Sapient Capital LLC acquired a new position in Merchants Bancorp in the 4th quarter worth about $3,414,000. Assenagon Asset Management S.A. raised its position in Merchants Bancorp by 129.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 126,877 shares of the company’s stock valued at $5,402,000 after purchasing an additional 71,632 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Merchants Bancorp during the fourth quarter valued at about $2,658,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MBIN. Raymond James reaffirmed a “strong-buy” rating and issued a $55.00 price objective on shares of Merchants Bancorp in a research note on Wednesday, May 15th. Piper Sandler reiterated an “overweight” rating and set a $56.00 price target (down previously from $58.50) on shares of Merchants Bancorp in a report on Friday, May 17th.

Merchants Bancorp Trading Down 0.9 %

Shares of MBIN traded down $0.37 during mid-day trading on Wednesday, reaching $40.76. 57,580 shares of the company were exchanged, compared to its average volume of 164,705. The business has a 50 day simple moving average of $41.41 and a two-hundred day simple moving average of $41.48. Merchants Bancorp has a 52 week low of $24.46 and a 52 week high of $48.68. The stock has a market capitalization of $1.77 billion, a PE ratio of 6.40 and a beta of 1.12. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.81 and a current ratio of 1.06.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Monday, April 29th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.43. Merchants Bancorp had a net margin of 23.55% and a return on equity of 26.65%. The firm had revenue of $355.05 million for the quarter, compared to the consensus estimate of $144.15 million. On average, analysts predict that Merchants Bancorp will post 6.38 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, June 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.88%. Merchants Bancorp’s payout ratio is currently 5.65%.

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.