Merchants Bancorp (NASDAQ:MBIN) Insider Sells $1,077,500.00 in Stock

Merchants Bancorp (NASDAQ:MBIN) insider Scott A. Evans sold 25,000 shares of Merchants Bancorp stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the completion of the sale, the insider now directly owns 27,606 shares in the company, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Merchants Bancorp Stock Performance

NASDAQ MBIN opened at $41.93 on Friday. The company’s 50 day moving average is $38.28 and its 200-day moving average is $41.70. Merchants Bancorp has a 12-month low of $34.16 and a 12-month high of $53.27. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. The firm has a market cap of $1.92 billion, a P/E ratio of 6.65 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. Sell-side analysts predict that Merchants Bancorp will post 5.17 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.86%. Merchants Bancorp’s dividend payout ratio is presently 5.71%.

Hedge Funds Weigh In On Merchants Bancorp

A number of institutional investors have recently made changes to their positions in MBIN. Kestra Investment Management LLC purchased a new stake in Merchants Bancorp during the 4th quarter valued at $25,000. CWM LLC increased its stake in Merchants Bancorp by 209.4% during the 3rd quarter. CWM LLC now owns 1,284 shares of the company’s stock valued at $58,000 after purchasing an additional 869 shares in the last quarter. Bank of Jackson Hole Trust bought a new stake in Merchants Bancorp during the 4th quarter valued at about $82,000. Matrix Trust Co increased its stake in Merchants Bancorp by 730.8% during the 4th quarter. Matrix Trust Co now owns 2,642 shares of the company’s stock valued at $96,000 after purchasing an additional 2,324 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Merchants Bancorp in the third quarter worth approximately $162,000. Institutional investors own 24.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MBIN. Raymond James reaffirmed an “outperform” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Merchants Bancorp in a research report on Thursday. Piper Sandler boosted their price target on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a research report on Thursday.

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.