Merchants Bancorp (NASDAQ:MBIN) CAO Darin L. Thomas Purchases 3,353 Shares

Key Points

• The Chief Accounting Officer of Merchants Bancorp, Darin Thomas, purchased 3,353 shares at an average price of $29.71, increasing his stock holdings by 303.99%.
• Merchants Bancorp reported a decrease in earnings per share to $0.60, missing expectations of $1.12, while revenue surpassed estimates at $179.20 million.
• The company recently announced a quarterly dividend of $0.10 per share, yielding 1.2% annually, with a dividend payout ratio of 8.79%.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) CAO Darin L. Thomas bought 3,353 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $29.71 per share, for a total transaction of $99,617.63. Following the transaction, the chief accounting officer directly owned 2,250 shares in the company, valued at approximately $66,847.50. This represents a -303.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Merchants Bancorp Price Performance

Shares of NASDAQ:MBIN traded down $0.12 during midday trading on Friday, reaching $32.42. 148,942 shares of the company's stock traded hands, compared to its average volume of 217,251. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $47.42. The company has a market cap of $1.49 billion, a P/E ratio of 7.13 and a beta of 1.30. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.88 and a current ratio of 1.20. The company has a fifty day simple moving average of $33.17 and a two-hundred day simple moving average of $34.28.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($0.52). The business had revenue of $179.20 million for the quarter, compared to analysts' expectations of $161.10 million. Merchants Bancorp had a net margin of 18.06% and a return on equity of 16.06%. Equities analysts predict that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.10 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. Merchants Bancorp's dividend payout ratio (DPR) is presently 8.79%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Morgan Stanley decreased their price objective on Merchants Bancorp from $40.00 to $34.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 29th. Piper Sandler reissued an "overweight" rating and set a $41.00 price objective (down previously from $42.00) on shares of Merchants Bancorp in a research note on Wednesday, July 30th. Raymond James Financial restated an "outperform" rating and issued a $40.00 target price (down from $41.00) on shares of Merchants Bancorp in a report on Tuesday, July 29th. Finally, Wall Street Zen lowered Merchants Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.33.

Institutional Trading of Merchants Bancorp

Institutional investors have recently made changes to their positions in the company. Sowell Financial Services LLC purchased a new stake in shares of Merchants Bancorp during the 1st quarter valued at approximately $318,000. Ameriprise Financial Inc. increased its position in shares of Merchants Bancorp by 76.0% during the 4th quarter. Ameriprise Financial Inc. now owns 82,200 shares of the company's stock worth $2,998,000 after purchasing an additional 35,492 shares during the last quarter. Millennium Management LLC increased its position in shares of Merchants Bancorp by 214.1% during the 4th quarter. Millennium Management LLC now owns 126,087 shares of the company's stock worth $4,598,000 after purchasing an additional 85,948 shares during the last quarter. Jane Street Group LLC increased its position in shares of Merchants Bancorp by 94.2% during the 4th quarter. Jane Street Group LLC now owns 20,513 shares of the company's stock worth $748,000 after purchasing an additional 9,952 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Merchants Bancorp during the 4th quarter worth about $878,000. 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.