Merchants Bancorp (NASDAQ:MBIN) Insider Sells $253,330.00 in Stock

Merchants Bancorp (NASDAQ:MBIN) insider Martin Schroeter sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $46.06, for a total value of $253,330.00. Following the completion of the sale, the insider owned 10,881 shares in the company, 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 is accessible through this link.

Merchants Bancorp Stock Up 1.5%

Shares of MBIN traded up $0.68 during mid-day trading on Thursday, hitting $47.24. 518,298 shares of the company’s stock were exchanged, compared to its average volume of 419,379. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.10 and a quick ratio of 0.80. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $48.26. The company has a market cap of $2.17 billion, a PE ratio of 12.50 and a beta of 1.27. The company has a 50-day simple moving average of $36.63 and a 200 day simple moving average of $33.60.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Wednesday, January 28th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $0.94 by $0.34. Merchants Bancorp had a net margin of 16.02% and a return on equity of 13.35%. The business had revenue of $193.49 million during the quarter, compared to analysts’ expectations of $170.80 million. On average, research analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

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

Merchants Bancorp announced that its board has initiated a stock repurchase plan on Wednesday, January 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Merchants Bancorp

Hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Merchants Bancorp during the 4th quarter worth $34,000. State of Alaska Department of Revenue purchased a new position in shares of Merchants Bancorp in the third quarter worth about $57,000. Tower Research Capital LLC TRC raised its position in shares of 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 during the period. Ameritas Investment Partners Inc. boosted its holdings in Merchants Bancorp by 44.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,649 shares of the company’s stock worth $88,000 after buying an additional 817 shares during the period. Finally, CWM LLC grew its stake in Merchants Bancorp by 121.6% in the 2nd quarter. CWM LLC now owns 3,010 shares of the company’s stock valued at $100,000 after buying an additional 1,652 shares in the last quarter. Institutional investors own 24.57% of the company’s stock.

Analyst Upgrades and Downgrades

MBIN has been the subject of a number of research analyst reports. Morgan Stanley lifted 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Merchants Bancorp in a report on Monday, December 29th. Wall Street Zen raised Merchants Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Zacks Research upgraded Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $38.00 target price (down previously from $40.00) on shares of Merchants Bancorp in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.00.

About Merchants Bancorp

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.