Insider Selling: Merchants Bancorp (NASDAQ:MBIN) Vice Chairman Sells 2,300 Shares of Stock

Merchants Bancorp (NASDAQ:MBIN) Vice Chairman Randall D. Rogers sold 2,300 shares of Merchants Bancorp stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $28.25, for a total value of $64,975.00. Following the completion of the sale, the insider now owns 97,894 shares of the company’s stock, valued at $2,765,505.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Merchants Bancorp Stock Down 0.1 %

NASDAQ:MBIN traded down $0.03 on Monday, hitting $28.00. The stock had a trading volume of 29,640 shares, compared to its average volume of 67,336. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.96. Merchants Bancorp has a 52 week low of $21.50 and a 52 week high of $33.58. The business’s fifty day moving average is $29.39 and its 200 day moving average is $26.84. The company has a market cap of $1.21 billion, a PE ratio of 5.94 and a beta of 1.18.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Thursday, July 27th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.08. Merchants Bancorp had a return on equity of 23.95% and a net margin of 26.77%. The company had revenue of $135.50 million for the quarter, compared to analyst estimates of $122.90 million. On average, equities research analysts expect that Merchants Bancorp will post 4.96 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Thursday, September 14th. Merchants Bancorp’s payout ratio is presently 6.78%.

Institutional Investors Weigh In On Merchants Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in MBIN. Fairfield Bush & CO. bought a new stake in Merchants Bancorp during the 1st quarter worth approximately $163,000. Swiss National Bank raised its position in Merchants Bancorp by 61.3% in the 1st quarter. Swiss National Bank now owns 35,800 shares of the company’s stock valued at $980,000 after buying an additional 13,600 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Merchants Bancorp by 18.5% during the 1st quarter. JPMorgan Chase & Co. now owns 70,890 shares of the company’s stock valued at $1,941,000 after acquiring an additional 11,091 shares in the last quarter. Raymond James & Associates boosted its holdings in Merchants Bancorp by 58.7% during the 1st quarter. Raymond James & Associates now owns 48,608 shares of the company’s stock worth $1,331,000 after acquiring an additional 17,971 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Merchants Bancorp in the 1st quarter worth $209,000. Institutional investors and hedge funds own 24.57% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MBIN. Piper Sandler raised their price objective on shares of Merchants Bancorp from $31.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Raymond James raised their price target on shares of Merchants Bancorp from $38.00 to $41.00 and gave the stock a “strong-buy” rating in a report on Monday, July 31st.

About Merchants Bancorp

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. 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; offers customized loan products for need-based skilled nursing facilities, independent living, assisted living, and memory care; and tax credit equity syndicator.