Royce & Associates Boosts Stake in Merchants Bancorp

Investment firm increases holdings in regional bank by 10.2% in Q3

Published on Mar. 2, 2026

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Royce & Associates LP, an institutional investor, grew its stake in Merchants Bancorp (NASDAQ:MBIN) by 10.2% during the third quarter of 2025, according to a recent SEC filing. The firm now owns 862,119 shares of the regional bank's stock, representing 1.88% ownership.

Why it matters

Merchants Bancorp is a regional bank headquartered in Buffalo, New York, serving small and medium-sized businesses, professionals, and individuals across western and central New York. The increase in Royce & Associates' stake suggests the investment firm sees growth potential in the bank's commercial lending, mortgage origination, and treasury management services.

The details

According to the filing, Royce & Associates purchased an additional 79,707 shares of Merchants Bancorp during the third quarter, bringing its total holdings to 862,119 shares. The investment firm now owns 1.88% of the company's outstanding stock, up from 1.71% at the end of the prior quarter.

  • Royce & Associates increased its stake in Merchants Bancorp during the third quarter of 2025.

The players

Royce & Associates LP

An institutional investment firm that manages equity and fixed-income portfolios for clients.

Merchants Bancorp

A regional bank headquartered in Buffalo, New York, that provides commercial and consumer banking services across western and central New York.

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The takeaway

The increased stake by Royce & Associates in Merchants Bancorp suggests the investment firm sees long-term growth potential in the regional bank's commercial lending, mortgage origination, and treasury management services, which could signal positive momentum for the company's future performance.