Merchants Bancorp (NASDAQ:MBIN) CEO Michael F. Petrie Sells 5,000 Shares of Stock

Merchants Bancorp (NASDAQ:MBIN – Get Rating) CEO Michael F. Petrie sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $17.00, for a total transaction of $85,000.00. Following the sale, the chief executive officer now owns 115,000 shares in the company, valued at approximately $1,955,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Merchants Bancorp Trading Up 2.1 %

MBIN stock opened at $23.05 on Tuesday. The firm has a fifty day moving average price of $25.36 and a 200 day moving average price of $25.95. Merchants Bancorp has a fifty-two week low of $21.50 and a fifty-two week high of $31.36. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.77 and a current ratio of 1.05. The firm has a market cap of $996.54 million, a PE ratio of 5.10 and a beta of 1.11.

Merchants Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Wednesday, March 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, March 14th. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.39%. Merchants Bancorp’s dividend payout ratio (DPR) is 7.08%.

Analyst Upgrades and Downgrades

MBIN has been the subject of a number of research analyst reports. Raymond James increased their price objective on shares of Merchants Bancorp from $35.00 to $38.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 28th. Piper Sandler cut their price objective on shares of Merchants Bancorp from $35.00 to $31.00 in a report on Monday, May 1st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MBIN. Fairfield Bush & CO. purchased a new position in shares of Merchants Bancorp in the first quarter valued at $163,000. Swiss National Bank grew its holdings in shares of Merchants Bancorp by 61.3% in the first quarter. Swiss National Bank now owns 35,800 shares of the company’s stock valued at $980,000 after purchasing an additional 13,600 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Merchants Bancorp by 18.5% in the first quarter. JPMorgan Chase & Co. now owns 70,890 shares of the company’s stock valued at $1,941,000 after purchasing an additional 11,091 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Merchants Bancorp by 58.7% in the first quarter. Raymond James & Associates now owns 48,608 shares of the company’s stock valued at $1,331,000 after purchasing an additional 17,971 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Merchants Bancorp in the first quarter valued at $209,000. 23.14% of the stock is owned by hedge funds and other institutional investors.

Merchants Bancorp Company Profile

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Merchants Bancorp is a bank holding company, which specializes in multiple lines of business in banking and finance. It operates through the following segments: Multi-Family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-Family Mortgage Banking segment engages in mortgage banking, specializing in originating and servicing loans for multi-family rental housing and healthcare facility financing, particularly for senior living properties.