Merchants Bancorp (NASDAQ:MBIN) Insider Martin Schroeter Sells 5,500 Shares

Merchants Bancorp (NASDAQ:MBIN) insider Martin Schroeter sold 5,500 shares of Merchants Bancorp stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $46.06, for a total transaction of $253,330.00. Following the completion of the transaction, the insider directly owned 10,881 shares of the company’s stock, valued at $501,178.86. The trade was a 33.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Merchants Bancorp Stock Performance

NASDAQ MBIN opened at $47.24 on Friday. The stock’s 50 day simple moving average is $36.89 and its 200-day simple moving average is $33.69. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.10 and a quick ratio of 0.80. The company has a market cap of $2.17 billion, a PE ratio of 12.50 and a beta of 1.27. Merchants Bancorp has a 1-year low of $27.25 and a 1-year high of $48.26.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.34. The business had revenue of $193.49 million during the quarter, compared to analyst estimates of $170.80 million. Merchants Bancorp had a return on equity of 13.35% and a net margin of 16.02%. As a group, equities research analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 28th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Merchants Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, December 15th. Merchants Bancorp’s payout ratio is 10.58%.

Analyst Upgrades and Downgrades

MBIN has been the subject of a number of research reports. Zacks Research raised shares of Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Wall Street Zen upgraded Merchants Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Raymond James Financial reiterated an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of Merchants Bancorp in a research report on Wednesday, October 29th. Morgan Stanley boosted their price objective on shares of Merchants Bancorp from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, UBS Group set a $42.00 target price on Merchants Bancorp in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Institutional Investors Weigh In On Merchants Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in Merchants Bancorp by 1.0% in the first quarter. Royal Bank of Canada now owns 220,170 shares of the company’s stock worth $8,146,000 after purchasing an additional 2,101 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Merchants Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,741 shares of the company’s stock valued at $397,000 after buying an additional 449 shares during the period. Jane Street Group LLC boosted its stake in Merchants Bancorp by 60.3% during the first quarter. Jane Street Group LLC now owns 32,874 shares of the company’s stock valued at $1,216,000 after buying an additional 12,361 shares in the last quarter. Inspire Investing LLC acquired a new stake in shares of Merchants Bancorp during the 2nd quarter valued at $390,000. Finally, CWM LLC increased its stake in Merchants Bancorp by 121.6% in the 2nd quarter. CWM LLC now owns 3,010 shares of the company’s stock worth $100,000 after purchasing an additional 1,652 shares in the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Merchants Bancorp Company Profile

Merchants Bancorp (NASDAQ: MBIN) is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company’s primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.