Merchants Bancorp (NASDAQ:MBIN) CEO Purchases $201,292.00 in Stock

Merchants Bancorp (NASDAQ:MBIN) CEO Michael R. Dury purchased 5,200 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $38.71 per share, with a total value of $201,292.00. Following the completion of the transaction, the chief executive officer now owns 93,793 shares of the company’s stock, valued at approximately $3,630,727.03. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Merchants Bancorp Price Performance

NASDAQ:MBIN traded down $1.24 during trading hours on Monday, hitting $39.57. The stock had a trading volume of 331,753 shares, compared to its average volume of 183,532. Merchants Bancorp has a one year low of $25.78 and a one year high of $53.27. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.06 and a quick ratio of 0.81. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 6.19 and a beta of 1.12. The company has a 50 day simple moving average of $42.63 and a two-hundred day simple moving average of $42.14.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Monday, July 29th. The company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.08). The company had revenue of $359.62 million for the quarter, compared to analysts’ expectations of $160.70 million. Merchants Bancorp had a net margin of 23.14% and a return on equity of 26.78%. During the same quarter in the prior year, the firm earned $1.31 EPS. Research analysts forecast that Merchants Bancorp will post 6.22 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 14th. This represents a $0.36 annualized dividend and a yield of 0.91%. Merchants Bancorp’s dividend payout ratio (DPR) is currently 5.65%.

Analysts Set New Price Targets

A number of research firms have weighed in on MBIN. Raymond James cut shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $58.00 in a research note on Tuesday, July 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $56.00 price objective (down from $58.50) on shares of Merchants Bancorp in a research report on Friday, May 17th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MBIN. Wedge Capital Management L L P NC lifted its stake in Merchants Bancorp by 2.3% during the 4th quarter. Wedge Capital Management L L P NC now owns 15,748 shares of the company’s stock valued at $671,000 after acquiring an additional 360 shares during the period. Raymond James & Associates lifted its position in Merchants Bancorp by 0.8% in the second quarter. Raymond James & Associates now owns 55,365 shares of the company’s stock valued at $2,244,000 after buying an additional 414 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new position in Merchants Bancorp in the fourth quarter valued at about $26,000. Denali Advisors LLC lifted its position in shares of Merchants Bancorp by 0.8% during the first quarter. Denali Advisors LLC now owns 81,313 shares of the company’s stock worth $3,511,000 after purchasing an additional 680 shares in the last quarter. Finally, Twelve Points Wealth Management LLC increased its stake in shares of Merchants Bancorp by 3.8% during the second quarter. Twelve Points Wealth Management LLC now owns 32,846 shares of the company’s stock worth $1,332,000 after buying an additional 1,195 shares during the period. Hedge funds and other institutional investors own 24.57% of the company’s stock.

Merchants Bancorp Company Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.