Key Points
- Insider sale: Director Martin Schroeter sold 5,500 shares at an average price of $46.06 for $253,330, reducing his direct holding by 33.58% to 10,881 shares.
- Earnings beat: Merchants Bancorp reported quarterly EPS of $1.28 versus $0.94 expected and revenue of $193.49M versus $170.8M, topping estimates.
- $100.00 million buyback approved by the board (about 6.2% of shares), and the company pays a $0.10 quarterly dividend (annualized $0.40, ~0.8% yield).
Merchants Bancorp (NASDAQ:MBIN - Get Free Report) insider Martin Schroeter sold 5,500 shares of Merchants Bancorp stock in a transaction that occurred 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 in the company, valued at approximately $501,178.86. This represents a 33.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Merchants Bancorp Trading Up 1.5%
Merchants Bancorp stock opened at $47.24 on Friday. Merchants Bancorp has a 52 week low of $27.25 and a 52 week high of $48.26. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 1.10. The firm has a market capitalization of $2.17 billion, a PE ratio of 12.50 and a beta of 1.27. The business's 50-day simple moving average is $36.89 and its 200-day simple moving average is $33.69.
Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $1.28 earnings per share (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 for the quarter, compared to the consensus estimate of $170.80 million. Equities research analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current year.
Merchants Bancorp declared that its board has approved a share repurchase program on Wednesday, January 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.
Merchants Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. Merchants Bancorp's dividend payout ratio (DPR) is presently 10.58%.
Analyst Ratings Changes
Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of 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 objective (down previously from $40.00) on shares of Merchants Bancorp in a report on Wednesday, October 29th. Weiss Ratings restated a "hold (c+)" rating on shares of Merchants Bancorp in a report on Monday, December 29th. Zacks Research upgraded shares of Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 3rd. Finally, Piper Sandler reissued an "overweight" rating and set a $42.00 price target (up from $41.00) on shares of Merchants Bancorp in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $41.00.
Check Out Our Latest Research Report on MBIN
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Millennium Management LLC increased its stake in shares of Merchants Bancorp by 135.6% in the third quarter. Millennium Management LLC now owns 365,075 shares of the company's stock valued at $11,609,000 after buying an additional 210,151 shares during the period. Two Sigma Investments LP lifted its stake in Merchants Bancorp by 1,509.5% in the third quarter. Two Sigma Investments LP now owns 175,754 shares of the company's stock valued at $5,589,000 after buying an additional 164,834 shares during the period. Geode Capital Management LLC grew its holdings in Merchants Bancorp by 17.4% in the second quarter. Geode Capital Management LLC now owns 681,486 shares of the company's stock worth $22,539,000 after purchasing an additional 101,139 shares during the period. Doma Perpetual Capital Management LLC acquired a new stake in shares of Merchants Bancorp in the 3rd quarter valued at about $2,984,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Merchants Bancorp by 97.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 162,285 shares of the company's stock valued at $5,527,000 after acquiring an additional 80,136 shares in the last quarter. Institutional investors and hedge funds own 24.57% of the company's stock.
About Merchants Bancorp
(
Get Free Report)
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.
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