Allspring Global Investments Holdings LLC Boosts Holdings in Merchants Bancorp (NASDAQ:MBIN)

Allspring Global Investments Holdings LLC boosted its stake in Merchants Bancorp (NASDAQ:MBIN) by 27.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,261 shares of the company’s stock after acquiring an additional 17,685 shares during the period. Allspring Global Investments Holdings LLC owned about 0.19% of Merchants Bancorp worth $3,509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MBIN. Charles Schwab Investment Management Inc. increased its position in Merchants Bancorp by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 185,332 shares of the company’s stock valued at $5,137,000 after acquiring an additional 10,211 shares during the period. American Century Companies Inc. increased its position in Merchants Bancorp by 11.0% during the 3rd quarter. American Century Companies Inc. now owns 188,603 shares of the company’s stock worth $5,228,000 after purchasing an additional 18,693 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Merchants Bancorp by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 944,185 shares of the company’s stock valued at $26,173,000 after buying an additional 12,628 shares during the period. Advisor Resource Council purchased a new stake in shares of Merchants Bancorp in the fourth quarter valued at approximately $1,076,000. Finally, Twelve Points Wealth Management LLC grew its holdings in Merchants Bancorp by 3.8% during the fourth quarter. Twelve Points Wealth Management LLC now owns 31,733 shares of the company’s stock worth $1,351,000 after acquiring an additional 1,170 shares during the period. 24.57% of the stock is owned by hedge funds and other institutional investors.

Merchants Bancorp Trading Up 0.3 %

MBIN traded up $0.13 during midday trading on Tuesday, hitting $41.06. The company’s stock had a trading volume of 5,782 shares, compared to its average volume of 164,930. Merchants Bancorp has a 52-week low of $24.46 and a 52-week high of $48.68. The firm has a 50-day moving average price of $41.39 and a two-hundred day moving average price of $41.48. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 1.44. The firm has a market cap of $1.78 billion, a P/E ratio of 6.43 and a beta of 1.12.

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

Merchants Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MBIN shares. Raymond James reissued a “strong-buy” rating and issued a $55.00 target price on shares of Merchants Bancorp in a report on Wednesday, May 15th. Piper Sandler restated an “overweight” rating and set a $56.00 target price (down previously from $58.50) on shares of Merchants Bancorp in a research report on Friday, May 17th.

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.