Federated Hermes Inc. Acquires 216,761 Shares of Merchants Bancorp (NASDAQ:MBIN)

Federated Hermes Inc. lifted its holdings in Merchants Bancorp (NASDAQ:MBIN) by 42,253.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 217,274 shares of the company’s stock after acquiring an additional 216,761 shares during the period. Federated Hermes Inc. owned 0.50% of Merchants Bancorp worth $9,252,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Merchants Bancorp by 45.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,648 shares of the company’s stock worth $198,000 after purchasing an additional 1,463 shares during the period. SG Americas Securities LLC purchased a new stake in Merchants Bancorp in the 3rd quarter worth about $199,000. Arizona State Retirement System purchased a new stake in Merchants Bancorp in the 4th quarter worth about $206,000. Meeder Advisory Services Inc. purchased a new stake in Merchants Bancorp in the 3rd quarter worth about $208,000. Finally, Bailard Inc. purchased a new stake in Merchants Bancorp in the 3rd quarter worth about $227,000. Institutional investors own 24.57% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James increased their price objective on shares of Merchants Bancorp from $44.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 30th.

Merchants Bancorp Stock Performance

Shares of NASDAQ:MBIN opened at $40.93 on Thursday. The firm has a market cap of $1.77 billion, a PE ratio of 7.26 and a beta of 1.18. The firm’s 50 day simple moving average is $41.39 and its 200-day simple moving average is $38.11. Merchants Bancorp has a one year low of $21.50 and a one year high of $48.68. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.77 and a current ratio of 0.99.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Monday, January 29th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.14. The business had revenue of $346.21 million for the quarter, compared to analyst estimates of $142.65 million. Merchants Bancorp had a net margin of 23.42% and a return on equity of 25.38%. As a group, equities analysts predict that Merchants Bancorp will post 5.65 EPS for the current year.

Merchants Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.88%. Merchants Bancorp’s dividend payout ratio (DPR) is 6.38%.

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.