State Street Corp Has $20.21 Million Stock Holdings in Merchants Bancorp (NASDAQ:MBIN)

State Street Corp grew its stake in Merchants Bancorp (NASDAQ:MBIN) by 4.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 448,525 shares of the company’s stock after purchasing an additional 20,214 shares during the quarter. State Street Corp’s holdings in Merchants Bancorp were worth $20,205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in 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 purchasing an additional 61,292 shares in the last quarter. Royce & Associates LP increased its holdings in Merchants Bancorp by 143.1% during the third quarter. Royce & Associates LP now owns 490,189 shares of the company’s stock worth $22,039,000 after buying an additional 288,553 shares during the last quarter. Millennium Management LLC raised its position in Merchants Bancorp by 139.9% during the second quarter. Millennium Management LLC now owns 91,579 shares of the company’s stock worth $3,713,000 after acquiring an additional 53,401 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Merchants Bancorp in the second quarter valued at $1,060,000. Finally, US Bancorp DE grew its position in shares of Merchants Bancorp by 8,677.6% in the 3rd quarter. US Bancorp DE now owns 5,881 shares of the company’s stock valued at $264,000 after acquiring an additional 5,814 shares during the period. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Stock Performance

Shares of MBIN stock opened at $36.20 on Tuesday. Merchants Bancorp has a 52 week low of $35.56 and a 52 week high of $53.27. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 5.99 and a beta of 1.13. The company has a 50-day simple moving average of $40.09 and a 200 day simple moving average of $42.33. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.25). The firm had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. During the same period in the previous year, the company posted $1.68 EPS. On average, sell-side analysts predict that Merchants Bancorp will post 5.74 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, December 13th. Merchants Bancorp’s payout ratio is 5.96%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. 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 target price for the company. Raymond James cut their price objective on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Finally, Piper Sandler boosted their target price on Merchants Bancorp from $48.00 to $52.50 and gave the stock an “overweight” rating in a report on Tuesday, November 26th.

Insider Transactions at Merchants Bancorp

In other Merchants Bancorp news, Director Patrick D. O’brien bought 40,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $1,000,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 39.70% of the company’s stock.

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.