Merchants Bancorp (NASDAQ:MBIN - Get Free Report) 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 sale, the director directly owned 727,103 shares in the company, valued at approximately $40,136,085.60. This trade represents a 1.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Merchants Bancorp Stock Down 0.6%
Shares of Merchants Bancorp stock opened at $55.18 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.32. Merchants Bancorp has a 52-week low of $28.75 and a 52-week high of $56.87. The company has a market capitalization of $2.53 billion, a P/E ratio of 11.08 and a beta of 1.14. The company has a 50 day moving average of $48.87 and a 200 day moving average of $45.35.
Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.26. Merchants Bancorp had a net margin of 19.80% and a return on equity of 15.29%. The company had revenue of $182.22 million for the quarter, compared to the consensus estimate of $179.00 million. As a group, research analysts forecast that Merchants Bancorp will post 5.43 EPS for the current fiscal year.
Merchants Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a dividend of $0.11 per share. The ex-dividend date was Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. Merchants Bancorp's payout ratio is presently 8.84%.
Institutional Trading of Merchants Bancorp
A number of large investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Merchants Bancorp during the 4th quarter worth $34,000. Tower Research Capital LLC TRC raised its holdings 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 buying an additional 1,153 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of Merchants Bancorp in the first quarter valued at about $215,000. Brevan Howard Capital Management LP boosted its stake in shares of Merchants Bancorp by 16.7% during the second quarter. Brevan Howard Capital Management LP now owns 6,890 shares of the company's stock worth $228,000 after buying an additional 984 shares during the period. Finally, Numerai GP LLC acquired a new stake in shares of Merchants Bancorp during the fourth quarter worth about $254,000. Institutional investors and hedge funds own 24.57% of the company's stock.
Analyst Upgrades and Downgrades
MBIN has been the topic of a number of analyst reports. Zacks Research cut Merchants Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 30th. Raymond James Financial cut Merchants Bancorp from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded Merchants Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 4th. Piper Sandler reissued an "overweight" rating and set a $64.00 target price on shares of Merchants Bancorp in a research report on Wednesday. Finally, Morgan Stanley restated a "positive" rating and set a $49.00 target price (up from $46.00) on shares of Merchants Bancorp in a research note on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Merchants Bancorp has an average rating of "Moderate Buy" and an average price target of $51.50.
Read Our Latest Analysis on Merchants Bancorp
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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