Insider Selling: Merchants Bancorp (NASDAQ:MBIN) Insider Sells $253,330.00 in Stock

Merchants Bancorp (NASDAQ:MBIN) insider Martin Schroeter sold 5,500 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $46.06, for a total transaction of $253,330.00. Following the completion of the transaction, the insider directly owned 10,881 shares of the company’s stock, valued at approximately $501,178.86. This represents a 33.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Merchants Bancorp Price Performance

NASDAQ MBIN opened at $47.63 on Friday. The stock’s fifty day moving average price is $37.15 and its 200 day moving average price is $33.80. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $48.26. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.10 and a quick ratio of 0.80. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 12.60 and a beta of 1.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.34. Merchants Bancorp had a return on equity of 13.35% and a net margin of 16.02%.The business had revenue of $193.49 million for the quarter, compared to analyst estimates of $170.80 million. As a group, equities research analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, December 15th. Merchants Bancorp’s payout ratio is presently 10.58%.

Merchants Bancorp announced that its board has approved a stock repurchase plan on Wednesday, January 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MBIN shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Merchants Bancorp in a research note on Monday, December 29th. Morgan Stanley increased their target price on Merchants Bancorp from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Raymond James Financial reissued an “outperform” rating and set a $38.00 target price (down previously from $40.00) on shares of Merchants Bancorp in a research note on Wednesday, October 29th. UBS Group set a $42.00 price target on shares of Merchants Bancorp in a research note on Thursday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $42.00 price objective (up from $41.00) on shares of Merchants Bancorp in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Merchants Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MBIN. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Merchants Bancorp in the fourth quarter valued at approximately $34,000. State of Alaska Department of Revenue purchased a new stake in Merchants Bancorp in the 3rd quarter valued at $57,000. Tower Research Capital LLC TRC increased its stake in shares of Merchants Bancorp by 110.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock worth $73,000 after acquiring an additional 1,153 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Merchants Bancorp by 44.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,649 shares of the company’s stock worth $88,000 after acquiring an additional 817 shares during the period. Finally, CWM LLC boosted its position in shares of Merchants Bancorp by 121.6% during the 2nd quarter. CWM LLC now owns 3,010 shares of the company’s stock valued at $100,000 after acquiring an additional 1,652 shares during the last quarter. 24.57% of the stock is owned by hedge funds and other institutional investors.

About Merchants Bancorp

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.