Insider Selling: Merchants Bancorp (NASDAQ:MBIN) Director Sells $496,800.00 in Stock

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

Merchants Bancorp Stock Performance

Shares of Merchants Bancorp stock opened at $55.18 on Monday. The firm has a market cap of $2.53 billion, a P/E ratio of 11.08 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32. Merchants Bancorp has a 12 month low of $28.75 and a 12 month high of $56.87. The stock’s fifty day moving average price is $48.87 and its 200-day moving average price is $45.42.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $179.00 million. On average, equities research analysts expect that Merchants Bancorp will post 5.58 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Merchants Bancorp

Several institutional investors have recently added to or reduced their stakes in MBIN. Dimensional Fund Advisors LP grew its stake 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 last quarter. Vanguard Group Inc. boosted its stake in Merchants Bancorp by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 1,414,584 shares of the company’s stock worth $48,181,000 after purchasing an additional 36,184 shares in the last quarter. Geode Capital Management LLC boosted its stake in Merchants Bancorp by 2.7% in 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 position 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 during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its position 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 last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

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.