Merchants Bancorp (NASDAQ:MBIN) CEO Purchases $255,640.00 in Stock

Merchants Bancorp (NASDAQ:MBIN) CEO Michael R. Dury bought 14,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were acquired at an average cost of $18.26 per share, for a total transaction of $255,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 26,000 shares of the company’s stock, valued at approximately $474,760. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Merchants Bancorp Stock Performance

NASDAQ MBIN opened at $31.20 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 6.02 and a beta of 1.15. The firm’s 50 day simple moving average is $28.05 and its 200 day simple moving average is $27.10. Merchants Bancorp has a 1 year low of $21.50 and a 1 year high of $33.58.

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were given a $0.08 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.03%. Merchants Bancorp’s dividend payout ratio is currently 6.18%.

Institutional Trading of Merchants Bancorp

A number of hedge funds have recently added to or reduced their stakes in the stock. Bailard Inc. acquired a new stake in Merchants Bancorp in the third quarter valued at approximately $227,000. Raymond James & Associates boosted its position in Merchants Bancorp by 1.4% in the third quarter. Raymond James & Associates now owns 34,501 shares of the company’s stock valued at $956,000 after buying an additional 489 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Merchants Bancorp in the third quarter valued at approximately $199,000. Alliancebernstein L.P. boosted its position in Merchants Bancorp by 13.9% in the second quarter. Alliancebernstein L.P. now owns 16,180 shares of the company’s stock valued at $414,000 after buying an additional 1,980 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Merchants Bancorp by 33.3% in the second quarter. Wells Fargo & Company MN now owns 14,223 shares of the company’s stock valued at $364,000 after buying an additional 3,554 shares in the last quarter. Institutional investors and hedge funds own 24.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MBIN shares. Piper Sandler increased their price target on shares of Merchants Bancorp from $31.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Raymond James increased their price target on shares of Merchants Bancorp from $41.00 to $44.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 30th.

About Merchants Bancorp

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. 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; offers customized loan products for need-based skilled nursing facilities, independent living, assisted living, and memory care; and tax credit equity syndicator.