Assenagon Asset Management S.A. Purchases 126,375 Shares of Merchants Bancorp (NASDAQ:MBIN)

Assenagon Asset Management S.A. grew its position in Merchants Bancorp (NASDAQ:MBIN) by 91.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 264,464 shares of the company’s stock after acquiring an additional 126,375 shares during the period. Assenagon Asset Management S.A.’s holdings in Merchants Bancorp were worth $10,721,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Merchants Bancorp by 2.5% in the first quarter. Vanguard Group Inc. now owns 994,962 shares of the company’s stock worth $42,962,000 after purchasing an additional 24,122 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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. Banc Funds Co. LLC increased its position in Merchants Bancorp by 3.5% in the 4th quarter. Banc Funds Co. LLC now owns 527,700 shares of the company’s stock valued at $22,469,000 after acquiring an additional 18,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Merchants Bancorp by 21.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 224,580 shares of the company’s stock worth $9,563,000 after acquiring an additional 39,248 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Merchants Bancorp by 42,253.6% in the fourth quarter. Federated Hermes Inc. now owns 217,274 shares of the company’s stock worth $9,252,000 after acquiring an additional 216,761 shares during the last quarter. 24.57% of the stock is owned by institutional investors and hedge funds.

Merchants Bancorp Trading Up 5.2 %

Merchants Bancorp stock traded up $2.14 during trading hours on Friday, reaching $43.66. 286,527 shares of the company’s stock traded hands, compared to its average volume of 182,980. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 6.85 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 has a fifty-two week low of $25.78 and a fifty-two week high of $53.27. The firm’s 50 day moving average is $42.80 and its 200-day moving average is $42.00.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, July 29th. The company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.08). Merchants Bancorp had a net margin of 23.14% and a return on equity of 26.78%. The business had revenue of $359.62 million during the quarter, compared to analyst estimates of $160.70 million. During the same quarter in the prior year, the company earned $1.31 earnings per share. On average, analysts predict that Merchants Bancorp will post 6.22 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.09 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.82%. Merchants Bancorp’s dividend payout ratio is currently 5.65%.

Insider Buying and Selling

In related news, CEO Michael R. Dury bought 5,200 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $38.71 per share, for a total transaction of $201,292.00. Following the transaction, the chief executive officer now owns 93,793 shares of the company’s stock, valued at $3,630,727.03. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Merchants Bancorp news, CEO Michael R. Dury acquired 6,000 shares of the business’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 acquisition, the chief executive officer now directly owns 88,593 shares of the company’s stock, valued at approximately $3,970,738.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael R. Dury bought 5,200 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $38.71 per share, with a total value of $201,292.00. Following the completion of the purchase, the chief executive officer now owns 93,793 shares in the company, valued at approximately $3,630,727.03. The disclosure for this purchase can be found here. 39.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on MBIN. Piper Sandler reissued an “overweight” rating and issued a $56.00 price target (down previously from $58.50) on shares of Merchants Bancorp in a report on Friday, May 17th. Raymond James lowered Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $58.00 in a research report on Tuesday, July 30th.

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.