Randall D. Rogers Sells 21,157 Shares of Merchants Bancorp (NASDAQ:MBIN) Stock

Merchants Bancorp (NASDAQ:MBINGet Free Report) Vice Chairman Randall D. Rogers sold 21,157 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $31.75, for a total value of $671,734.75. Following the sale, the insider now owns 57,894 shares of the company’s stock, valued at $1,838,134.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Merchants Bancorp Price Performance

Shares of MBIN stock opened at $31.45 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.96. Merchants Bancorp has a twelve month low of $21.50 and a twelve month high of $33.58. The company has a market cap of $1.36 billion, a P/E ratio of 6.07 and a beta of 1.15. The business has a fifty day simple moving average of $28.27 and a 200 day simple moving average of $27.26.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. Merchants Bancorp’s dividend payout ratio is currently 6.18%.

Analysts Set New Price Targets

MBIN has been the subject of a number of recent analyst reports. Piper Sandler upped their target price on Merchants Bancorp from $31.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Raymond James upped their target price on Merchants Bancorp from $41.00 to $44.00 and gave the company a “strong-buy” rating in a research report on Monday, October 30th.

Read Our Latest Report on MBIN

Institutional Trading of Merchants Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC lifted its position in shares of Merchants Bancorp by 9.3% during the 1st quarter. SG Americas Securities LLC now owns 6,476 shares of the company’s stock worth $169,000 after buying an additional 550 shares during the last quarter. EA Series Trust bought a new position in Merchants Bancorp in the second quarter valued at about $2,793,000. Basswood Capital Management L.L.C. raised its position in Merchants Bancorp by 2.1% in the first quarter. Basswood Capital Management L.L.C. now owns 733,174 shares of the company’s stock valued at $19,092,000 after purchasing an additional 15,412 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Merchants Bancorp by 2.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 62,756 shares of the company’s stock valued at $1,605,000 after purchasing an additional 1,270 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Merchants Bancorp by 2.8% in the second quarter. Los Angeles Capital Management LLC now owns 41,050 shares of the company’s stock valued at $1,050,000 after purchasing an additional 1,100 shares during the last quarter. 24.57% of the stock is currently owned by institutional investors.

About Merchants Bancorp

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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.

Further Reading

Insider Buying and Selling by Quarter for Merchants Bancorp (NASDAQ:MBIN)

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