Julia Kaercher Sells 9,000 Shares of Merchants Bancorp (NASDAQ:MBIN) Stock

Merchants Bancorp (NASDAQ:MBIN) Director Julia Kaercher sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $55.20, for a total transaction of $496,800.00. Following the completion of the transaction, the director directly owned 727,103 shares of the company’s stock, valued at approximately $40,136,085.60. The trade was a 1.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Merchants Bancorp Price Performance

Shares of MBIN opened at $55.18 on Friday. Merchants Bancorp has a fifty-two week low of $28.75 and a fifty-two week high of $56.87. The firm’s 50 day moving average price is $48.87 and its 200 day moving average price is $45.35. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.32. The company has a market cap of $2.53 billion, a P/E ratio of 11.08 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.26. The business had revenue of $182.22 million for the quarter, compared to analysts’ expectations of $179.00 million. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%. On average, research analysts forecast that Merchants Bancorp will post 5.58 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, June 15th. Merchants Bancorp’s dividend payout ratio (DPR) is presently 8.84%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MBIN. Weiss Ratings raised Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Zacks Research cut shares of Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 30th. Piper Sandler reiterated an “overweight” rating and issued a $64.00 price target on shares of Merchants Bancorp in a research note on Wednesday. Morgan Stanley reiterated a “positive” rating and set a $49.00 price target (up from $46.00) on shares of Merchants Bancorp in a report on Monday, June 29th. Finally, Raymond James Financial downgraded shares of Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Merchants Bancorp currently has an average rating of “Moderate Buy” and an average price target of $51.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MBIN. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Merchants Bancorp during the 4th quarter worth about $34,000. Tower Research Capital LLC TRC boosted its holdings in Merchants Bancorp by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock valued at $73,000 after purchasing an additional 1,153 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in Merchants Bancorp in the first quarter valued at approximately $215,000. Fifth Third Bancorp acquired a new position in Merchants Bancorp in the first quarter valued at approximately $270,000. Finally, Oregon Public Employees Retirement Fund purchased a new position in Merchants Bancorp in the first quarter valued at approximately $287,000. 24.57% of the stock is owned by institutional investors and hedge funds.

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.