Insider Buying: Merchants Bancorp (NASDAQ:MBIN) CAO Buys 3,353 Shares of Stock

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 Thomas bought 3,353 shares of the 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 completion of the transaction, the chief accounting officer owned 2,250 shares of the company's stock, valued at approximately $66,847.50. The trade was a -303.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Merchants Bancorp Stock Performance

Shares of MBIN traded down $0.97 during mid-day trading on Monday, reaching $32.32. 230,780 shares of the company's stock were exchanged, compared to its average volume of 179,392. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.20 and a quick ratio of 0.88. The stock has a market capitalization of $1.48 billion, a PE ratio of 7.10 and a beta of 1.30. The business's fifty day simple moving average is $33.02 and its 200-day simple moving average is $34.57. Merchants Bancorp has a 52-week low of $27.25 and a 52-week high of $47.42.

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 return on equity of 16.06% and a net margin of 18.06%. On average, equities research analysts expect that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Merchants Bancorp

Institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers increased its stake in shares of Merchants Bancorp by 4.0% during the 4th quarter. Cetera Investment Advisers now owns 9,800 shares of the company's stock valued at $357,000 after acquiring an additional 381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Merchants Bancorp by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,292 shares of the company's stock worth $375,000 after purchasing an additional 392 shares in the last quarter. Matrix Trust Co increased its position in Merchants Bancorp by 10.3% during the 2nd quarter. Matrix Trust Co now owns 4,226 shares of the company's stock worth $140,000 after purchasing an additional 396 shares in the last quarter. Victory Capital Management Inc. increased its position in Merchants Bancorp by 3.8% during the 1st quarter. Victory Capital Management Inc. now owns 11,891 shares of the company's stock worth $440,000 after purchasing an additional 432 shares in the last quarter. Finally, Signaturefd LLC increased its position in Merchants Bancorp by 182.2% during the 1st quarter. Signaturefd LLC now owns 731 shares of the company's stock worth $27,000 after purchasing an additional 472 shares in the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

About Merchants Bancorp

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.

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