Janus Henderson Group PLC Cuts Stock Holdings in Merchants Bancorp (NASDAQ:MBIN)

Janus Henderson Group PLC decreased its stake in shares of Merchants Bancorp (NASDAQ:MBIN) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,231 shares of the company’s stock after selling 1,857 shares during the quarter. Janus Henderson Group PLC owned approximately 0.06% of Merchants Bancorp worth $1,269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in shares of Merchants Bancorp by 91.5% during the second quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock worth $10,721,000 after purchasing an additional 126,375 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Merchants Bancorp by 75.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 142,553 shares of the company’s stock worth $5,779,000 after acquiring an additional 61,292 shares during the last quarter. Royce & Associates LP raised its stake 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 purchasing an additional 288,553 shares during the period. Millennium Management LLC lifted its stake in shares of Merchants Bancorp by 139.9% in the 2nd quarter. Millennium Management LLC now owns 91,579 shares of the company’s stock valued at $3,713,000 after purchasing an additional 53,401 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new position in Merchants Bancorp during the second quarter valued at approximately $1,060,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

Merchants Bancorp Trading Up 0.6 %

Merchants Bancorp stock opened at $38.48 on Friday. The firm has a 50-day moving average price of $41.15 and a two-hundred day moving average price of $42.44. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 6.37 and a beta of 1.13. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. Merchants Bancorp has a 52-week low of $35.56 and a 52-week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly 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 the consensus estimate 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 business posted $1.68 earnings per share. Sell-side analysts expect that Merchants Bancorp will post 5.74 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, December 13th. Merchants Bancorp’s dividend payout ratio is currently 5.96%.

Insiders Place Their Bets

In other Merchants Bancorp news, Director Patrick D. O’brien purchased 40,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the acquisition, the director now owns 40,000 shares of the company’s stock, valued at $1,000,000. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 39.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MBIN. Piper Sandler raised their target price on Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Raymond James reduced their target price on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Finally, Morgan Stanley assumed coverage on shares of Merchants Bancorp in a research note on Monday, September 9th. They set an “equal weight” rating and a $54.00 price target on the stock.

Merchants Bancorp 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.