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

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

Merchants Bancorp Stock Performance

Shares of Merchants Bancorp stock opened at $55.18 on Friday. The business’s 50 day moving average price is $48.87 and its 200 day moving average price is $45.35. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 11.08 and a beta of 1.14. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.89 and a current ratio of 1.21. Merchants Bancorp has a one year low of $28.75 and a one year high of $56.87.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Tuesday, July 28th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.26. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%.The business had revenue of $182.22 million during the quarter, compared to the consensus estimate of $179.00 million. On average, research analysts predict that Merchants Bancorp will post 5.43 EPS for the current year.

Merchants Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. Merchants Bancorp’s dividend payout ratio is currently 8.84%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Merchants Bancorp

Several institutional investors have recently modified their holdings of MBIN. Dimensional Fund Advisors LP increased its position in shares of Merchants Bancorp by 6.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,758,985 shares of the company’s stock worth $75,476,000 after acquiring an additional 102,087 shares during the period. Vanguard Group Inc. boosted its holdings in Merchants Bancorp by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 1,414,584 shares of the company’s stock valued at $48,181,000 after purchasing an additional 36,184 shares during the period. Geode Capital Management LLC grew its stake in Merchants Bancorp by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 715,394 shares of the company’s stock worth $24,371,000 after purchasing an additional 18,925 shares in the last quarter. State Street Corp grew its stake in Merchants Bancorp by 4.7% during the 4th quarter. State Street Corp now owns 574,086 shares of the company’s stock worth $19,609,000 after purchasing an additional 25,823 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in Merchants Bancorp by 7.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 389,878 shares of the company’s stock worth $12,398,000 after purchasing an additional 27,358 shares during the period. Institutional investors and hedge funds own 24.57% of the company’s stock.

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.