Merchants Bancorp (NASDAQ:MBIN) Shares Gap Up – Here’s Why

Merchants Bancorp (NASDAQ:MBINGet Free Report)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $39.76, but opened at $43.05. Merchants Bancorp shares last traded at $42.89, with a volume of 39,469 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Raymond James restated an “outperform” rating and set a $53.00 price objective (up previously from $50.00) on shares of Merchants Bancorp in a report on Thursday. Piper Sandler upped their price objective on Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a report on Thursday.

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Merchants Bancorp Stock Performance

The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The stock’s 50-day simple moving average is $38.20 and its 200-day simple moving average is $41.72. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 6.74 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBINGet Free Report) last announced its quarterly earnings data on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. Analysts forecast that Merchants Bancorp will post 5.17 earnings per share for the current fiscal year.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Friday, December 13th. Merchants Bancorp’s dividend payout ratio is 5.71%.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total value of $1,077,500.00. Following the sale, the insider now owns 27,606 shares in the company, valued at approximately $1,189,818.60. The trade was a 47.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Patrick D. O’brien acquired 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the purchase, the director now owns 40,000 shares of the company’s stock, valued at $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 39.70% of the company’s stock.

Institutional Investors Weigh In On Merchants Bancorp

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in Merchants Bancorp by 3.7% in the third quarter. Victory Capital Management Inc. now owns 12,734 shares of the company’s stock valued at $573,000 after buying an additional 456 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Merchants Bancorp by 9.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,340 shares of the company’s stock valued at $240,000 after purchasing an additional 460 shares during the period. Sei Investments Co. boosted its position in shares of Merchants Bancorp by 10.3% during the 2nd quarter. Sei Investments Co. now owns 8,571 shares of the company’s stock valued at $347,000 after purchasing an additional 800 shares in the last quarter. CWM LLC grew its stake in Merchants Bancorp by 209.4% during the third quarter. CWM LLC now owns 1,284 shares of the company’s stock worth $58,000 after purchasing an additional 869 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Merchants Bancorp by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,319 shares of the company’s stock worth $914,000 after buying an additional 1,099 shares in the last quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

About Merchants Bancorp

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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.

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