Merchants Bancorp (NASDAQ:MBIN) Shares Gap Down to $42.35

Merchants Bancorp (NASDAQ:MBIN)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $42.35, but opened at $41.50. Merchants Bancorp shares last traded at $42.07, with a volume of 4,829 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MBIN. Piper Sandler restated an “overweight” rating and issued a $56.00 target price (down previously from $58.50) on shares of Merchants Bancorp in a research report on Friday, May 17th. Raymond James downgraded shares of Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $55.00 to $58.00 in a research note on Tuesday, July 30th. Finally, Morgan Stanley started coverage on shares of Merchants Bancorp in a research note on Monday, September 9th. They issued an “equal weight” rating and a $54.00 price objective for the company.

Merchants Bancorp Trading Up 3.9 %

The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 0.78. The stock has a market capitalization of $2.01 billion, a P/E ratio of 6.89 and a beta of 1.10. The firm’s 50 day moving average price is $44.50 and its 200 day moving average price is $42.44.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Monday, July 29th. The company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.08). Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. The company had revenue of $359.62 million during the quarter, compared to analysts’ expectations of $160.70 million. During the same period in the prior year, the business posted $1.31 earnings per share. As a group, equities research analysts expect that Merchants Bancorp will post 6.09 earnings per share for the current fiscal year.

Merchants Bancorp Dividend Announcement

The company 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 $0.09 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.36 annualized dividend and a yield of 0.82%. Merchants Bancorp’s payout ratio is 5.65%.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, CEO Michael R. Dury bought 5,200 shares of Merchants Bancorp stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $38.71 per share, with a total value of $201,292.00. Following the transaction, the chief executive officer now directly owns 93,793 shares of the company’s stock, valued at $3,630,727.03. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael R. Dury acquired 5,200 shares of Merchants Bancorp stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $38.71 per share, with a total value of $201,292.00. Following the transaction, the chief executive officer now directly owns 93,793 shares in the company, valued at $3,630,727.03. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $44.00, for a total value of $3,300,000.00. Following the completion of the sale, the insider now directly owns 748,000 shares in the company, valued at $32,912,000. The disclosure for this sale can be found here. Insiders own 39.70% of the company’s stock.

Institutional Trading of Merchants Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in shares of Merchants Bancorp by 91.5% during the second quarter. Assenagon Asset Management S.A. now owns 264,464 shares of the company’s stock valued at $10,721,000 after buying an additional 126,375 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. bought a new position in shares of Merchants Bancorp during the fourth quarter valued at $2,289,000. Quadrature Capital Ltd purchased a new stake in shares of Merchants Bancorp during the fourth quarter valued at $2,658,000. Jacobs Levy Equity Management Inc. raised its position in Merchants Bancorp by 441.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 106,717 shares of the company’s stock worth $4,608,000 after buying an additional 87,012 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Merchants Bancorp during the 1st quarter valued at about $587,000. 24.57% of the stock is currently owned by institutional investors.

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.