Merchants Bancorp (NASDAQ:MBIN) Director Acquires $1,000,000.00 in Stock

Merchants Bancorp (NASDAQ:MBIN) Director Patrick D. O’brien acquired 40,000 shares of Merchants Bancorp stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $1,000,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Merchants Bancorp Price Performance

Shares of MBIN stock traded down $0.81 on Wednesday, reaching $38.19. 201,247 shares of the company were exchanged, compared to its average volume of 180,060. The business has a 50-day moving average price of $42.66 and a 200 day moving average price of $42.91. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. Merchants Bancorp has a 1 year low of $32.52 and a 1 year high of $53.27. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 6.33 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. The firm had revenue of $355.67 million for the quarter, compared to analyst estimates of $156.13 million. During the same period last year, the firm earned $1.68 EPS. Equities research analysts forecast that Merchants Bancorp will post 5.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $48.00 price target (down from $56.00) on shares of Merchants Bancorp in a report on Wednesday, October 30th. Raymond James reduced their price target on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Finally, Morgan Stanley began coverage on Merchants Bancorp in a research note on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price target on the stock.

Institutional Investors Weigh In On Merchants Bancorp

Several large investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its position in shares of Merchants Bancorp by 209.4% in 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 during the period. nVerses Capital LLC lifted its position in shares of Merchants Bancorp by 650.0% during the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock worth $61,000 after buying an additional 1,300 shares during the period. Catalyst Capital Advisors LLC bought a new position in Merchants Bancorp in the 3rd quarter valued at $162,000. FMR LLC raised its position in shares of Merchants Bancorp by 214.5% during the third quarter. FMR LLC now owns 3,957 shares of the company’s stock worth $178,000 after acquiring an additional 2,699 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Merchants Bancorp by 54.3% in the second quarter. Point72 Asset Management L.P. now owns 4,012 shares of the company’s stock valued at $163,000 after acquiring an additional 1,412 shares during the period. 24.57% of the stock is owned by institutional investors and hedge funds.

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.