US Bancorp DE Boosts Stock Position in Merchants Bancorp (NASDAQ:MBIN)

US Bancorp DE raised its stake in Merchants Bancorp (NASDAQ:MBIN) by 8,677.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,881 shares of the company’s stock after acquiring an additional 5,814 shares during the period. US Bancorp DE’s holdings in Merchants Bancorp were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MBIN. Assenagon Asset Management S.A. boosted its stake in shares of Merchants Bancorp by 91.5% in the second quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock valued at $10,721,000 after buying an additional 126,375 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Merchants Bancorp by 441.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company’s stock worth $4,608,000 after acquiring an additional 87,012 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Merchants Bancorp in the first quarter valued at $587,000. Allspring Global Investments Holdings LLC increased its position in shares of Merchants Bancorp by 75.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 142,553 shares of the company’s stock valued at $5,779,000 after buying an additional 61,292 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Merchants Bancorp by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 994,962 shares of the company’s stock worth $42,962,000 after buying an additional 24,122 shares during the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Insiders Place Their Bets

In other Merchants Bancorp news, CEO Michael F. Petrie sold 22,050 shares of Merchants Bancorp stock in a transaction 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 transaction, the chief executive officer now owns 1,990,545 shares in the company, valued at $90,251,310.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Merchants Bancorp news, CEO Michael F. Petrie sold 22,050 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of Merchants Bancorp stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the sale, the insider now directly owns 748,000 shares in the company, valued at $32,912,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 39.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MBIN has been the topic of a number of research reports. Morgan Stanley began coverage on shares of Merchants Bancorp in a research note on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $48.00 price objective (down from $56.00) on shares of Merchants Bancorp in a research note on Wednesday, October 30th. Finally, Raymond James reduced their target price on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th.

Merchants Bancorp Price Performance

NASDAQ:MBIN opened at $40.75 on Thursday. Merchants Bancorp has a 12-month low of $31.84 and a 12-month high of $53.27. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 6.75 and a beta of 1.12. The company’s 50-day moving average is $43.02 and its two-hundred day moving average is $42.98. The company has a current ratio of 1.15, a quick ratio of 0.78 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). The firm had revenue of $355.67 million for the quarter, compared to analyst estimates of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same quarter last year, the business posted $1.68 EPS. Research analysts expect that Merchants Bancorp will post 5.77 EPS for the current year.

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.