Merchants Bancorp (NASDAQ:MBIN) Hits New 52-Week Low at $22.33

Merchants Bancorp (NASDAQ:MBINGet Rating)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $22.33 and last traded at $22.34, with a volume of 801 shares trading hands. The stock had previously closed at $22.78.

Separately, Zacks Investment Research upgraded Merchants Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday.

The stock has a market cap of $984.78 million, a PE ratio of 4.53 and a beta of 1.06. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.13. The company’s 50-day moving average price is $26.36 and its 200 day moving average price is $29.19.

Merchants Bancorp (NASDAQ:MBINGet Rating) last released its quarterly earnings results on Thursday, April 28th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.00 by $0.02. The firm had revenue of $100.32 million for the quarter, compared to analyst estimates of $100.40 million. Merchants Bancorp had a net margin of 47.17% and a return on equity of 28.86%. As a group, equities research analysts predict that Merchants Bancorp will post 3.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Tuesday, March 15th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Monday, March 14th. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.06. Merchants Bancorp’s payout ratio is presently 5.60%.

In other news, Vice Chairman Randall D. Rogers bought 12,145 shares of the business’s stock in a transaction on Tuesday, March 15th. The shares were bought at an average price of $24.50 per share, with a total value of $297,552.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 40.75% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its position in shares of Merchants Bancorp by 2.5% during the fourth quarter. California State Teachers Retirement System now owns 13,822 shares of the company’s stock worth $654,000 after acquiring an additional 334 shares during the period. Rhumbline Advisers increased its position in shares of Merchants Bancorp by 2.7% during the fourth quarter. Rhumbline Advisers now owns 17,680 shares of the company’s stock worth $837,000 after acquiring an additional 461 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Merchants Bancorp by 49.6% during the first quarter. Steward Partners Investment Advisory LLC now owns 1,486 shares of the company’s stock worth $41,000 after acquiring an additional 493 shares during the period. Deutsche Bank AG increased its position in shares of Merchants Bancorp by 10.5% during the third quarter. Deutsche Bank AG now owns 6,462 shares of the company’s stock worth $255,000 after acquiring an additional 613 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Merchants Bancorp by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 103,502 shares of the company’s stock worth $4,899,000 after acquiring an additional 755 shares during the period. 14.78% of the stock is currently owned by institutional investors.

Merchants Bancorp Company Profile (NASDAQ:MBIN)

Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.

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