Merchants Bancorp (NASDAQ:MBIN) Director Sells 9,000 Shares of Stock

Key Points

• Director Julia Kaercher sold 9,000 Merchants Bancorp shares at an average price of $55.20, generating $496,800; she retained 727,103 shares after the transaction.
• Merchants Bancorp reported quarterly EPS of $1.48, beating analyst expectations of $1.22, while revenue of $182.22 million also exceeded estimates.
• Shares declined 0.6% to $55.18, near their 12-month high, while analysts maintained a “Moderate Buy” consensus with an average price target of $51.50; the company also pays a quarterly dividend of $0.11 per share.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) Director Julia Kaercher sold 9,000 shares of the firm's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $55.20, for a total transaction 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 trade represents a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Merchants Bancorp Trading Down 0.6%

Shares of MBIN stock traded down $0.33 during trading hours on Friday, reaching $55.18. 222,061 shares of the stock were exchanged, compared to its average volume of 236,156. 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 firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 11.08 and a beta of 1.14. The company's 50-day moving average price is $48.68 and its 200-day moving average price is $45.28.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.26. Merchants Bancorp had a net margin of 19.80% and a return on equity of 15.29%. The business had revenue of $182.22 million during the quarter, compared to the consensus estimate of $179.00 million. As a group, equities analysts anticipate that Merchants Bancorp will post 5.31 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The firm also recently declared 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. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 15th. Merchants Bancorp's dividend payout ratio (DPR) is currently 8.84%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Zacks Research downgraded Merchants Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 30th. Morgan Stanley reiterated 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. Raymond James Financial lowered shares of Merchants Bancorp from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of Merchants Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 4th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $64.00 price target on shares of Merchants Bancorp in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $51.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Merchants Bancorp during the 4th quarter valued at $34,000. Tower Research Capital LLC TRC grew its position in shares of Merchants Bancorp by 110.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company's stock worth $73,000 after buying an additional 1,153 shares in the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Merchants Bancorp during the 1st quarter worth $215,000. Fifth Third Bancorp purchased a new position in shares of Merchants Bancorp during the first quarter valued at $270,000. Finally, Oregon Public Employees Retirement Fund purchased a new position in shares of Merchants Bancorp during the first quarter valued at $287,000. Institutional investors own 24.57% of the company's stock.

Merchants Bancorp Company Profile

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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