Patrick D. O’brien Purchases 40,000 Shares of Merchants Bancorp (NASDAQ:MBIN) Stock

Merchants Bancorp (NASDAQ:MBIN) Director Patrick D. O’brien acquired 40,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the purchase, the director now owns 40,000 shares of the company’s stock, valued at approximately $1,000,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Merchants Bancorp Stock Performance

Merchants Bancorp stock traded down $0.81 on Wednesday, reaching $38.19. 201,247 shares of the stock were exchanged, compared to its average volume of 180,060. The stock has a market cap of $1.75 billion, a PE ratio of 6.33 and a beta of 1.12. The firm has a fifty day moving average price of $42.66 and a two-hundred day moving average price of $42.91. Merchants Bancorp has a twelve month low of $32.52 and a twelve month high of $53.27. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The business had revenue of $355.67 million during the quarter, compared to the consensus estimate of $156.13 million. During the same period last year, the business posted $1.68 EPS. Sell-side analysts anticipate that Merchants Bancorp will post 5.77 EPS for the current year.

Hedge Funds Weigh In On Merchants Bancorp

A number of large investors have recently modified their holdings of the company. CWM LLC boosted its holdings in Merchants Bancorp by 209.4% in the third quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after acquiring an additional 869 shares in the last quarter. nVerses Capital LLC boosted its stake in Merchants Bancorp by 650.0% in the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock worth $61,000 after purchasing an additional 1,300 shares during the period. Catalyst Capital Advisors LLC bought a new position in Merchants Bancorp in the 3rd quarter worth approximately $162,000. Point72 Asset Management L.P. raised its holdings in Merchants Bancorp by 54.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock valued at $163,000 after buying an additional 1,412 shares during the period. Finally, FMR LLC raised its holdings in Merchants Bancorp by 214.5% during the 3rd quarter. FMR LLC now owns 3,957 shares of the company’s stock valued at $178,000 after buying an additional 2,699 shares during the period. 24.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MBIN. Morgan Stanley assumed coverage on Merchants Bancorp in a research note on Monday, September 9th. They set an “equal weight” rating and a $54.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $48.00 price target (down previously from $56.00) on shares of Merchants Bancorp in a report on Wednesday, October 30th. Finally, Raymond James dropped their price objective on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th.

Merchants Bancorp Company 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.