Randall D. Rogers Sells 75,000 Shares of Merchants Bancorp (NASDAQ:MBIN) Stock

Merchants Bancorp (NASDAQ:MBIN) Vice Chairman Randall D. Rogers sold 75,000 shares of Merchants Bancorp stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total value of $3,300,000.00. Following the transaction, the insider now directly owns 748,000 shares of the company’s stock, valued at approximately $32,912,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Merchants Bancorp Trading Up 1.8 %

Shares of NASDAQ MBIN traded up $0.78 during trading hours on Thursday, reaching $44.70. The stock had a trading volume of 382,388 shares, compared to its average volume of 183,425. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 7.02 and a beta of 1.12. Merchants Bancorp has a 52-week low of $25.78 and a 52-week high of $53.27. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 1.44. The business’s fifty day moving average price is $43.00 and its two-hundred day moving average price is $42.01.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Monday, July 29th. The company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.08). Merchants Bancorp had a net margin of 23.14% and a return on equity of 26.78%. The company had revenue of $359.62 million for the quarter, compared to analysts’ expectations of $160.70 million. During the same quarter in the prior year, the business posted $1.31 earnings per share. Analysts expect that Merchants Bancorp will post 6.22 EPS for the current fiscal year.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, September 13th. This represents a $0.36 annualized dividend and a yield of 0.81%. Merchants Bancorp’s dividend payout ratio is currently 5.65%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MBIN. Piper Sandler reissued an “overweight” rating and set a $56.00 target price (down from $58.50) on shares of Merchants Bancorp in a research note on Friday, May 17th. Raymond James downgraded shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $58.00 in a report on Tuesday, July 30th.

Hedge Funds Weigh In On Merchants Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Merchants Bancorp by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,893 shares of the company’s stock valued at $41,465,000 after buying an additional 94,781 shares during the period. Vanguard Group Inc. grew its stake in Merchants Bancorp by 2.5% in the first quarter. Vanguard Group Inc. now owns 994,962 shares of the company’s stock worth $42,962,000 after purchasing an additional 24,122 shares in the last quarter. Banc Funds Co. LLC raised its holdings in shares of Merchants Bancorp by 3.5% during the fourth quarter. Banc Funds Co. LLC now owns 527,700 shares of the company’s stock worth $22,469,000 after purchasing an additional 18,000 shares during the period. American Century Companies Inc. increased its position in Merchants Bancorp by 23.0% in the second quarter. American Century Companies Inc. now owns 370,257 shares of the company’s stock worth $15,010,000 after buying an additional 69,133 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of Merchants Bancorp by 6,793.6% during the second quarter. Marshall Wace LLP now owns 365,290 shares of the company’s stock valued at $14,809,000 after buying an additional 359,991 shares during the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

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.