Merchants Bancorp (NASDAQ:MBIN) sees high trading volume following dividend announcement

Shares of Merchants Bancorp ( NASDAQ:MBIN – Get Free Report ) saw unusually strong trading volume on Friday after the company announced a dividend. About 145,791 shares were traded during mid-day trading, down 20% from the previous session’s volume of 182,039 shares. Shares last traded at $42.54 and previously closed at $41.52.

The new dividend announced which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.09 per share. This represents an annualized dividend of $0.36 and a yield of 0.82%. The ex-dividend date is Friday, September 13. Merchants Bancorp’s payout rate is currently 5.65%.

Analyst upgrades and downgrades

MBIN has been the subject of several research reports. Raymond James lowered Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $58.00 in a research report on Tuesday. July 30. Piper Sandler reissued an “overweight” rating and set a $56.00 target price (down from $58.50) on shares of Merchants Bancorp in a report on Friday, May 17th.

Check out the latest stock report on MBIN

Price performance of Merchants Bancorp

The company has a debt-to-equity ratio of 1.44, a current ratio of 1.06, and a quick ratio of 0.81. The company has a fifty day moving average price of $42.80 and a 200 day moving average price of $41.98. The company has a market cap of $1.89 billion, a P/E ratio of 6.85 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN – Get Your Free Report ) last issued its quarterly earnings data on Monday, July 29th. The company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.08). The company had revenue of $359.62 million for the quarter, compared to the consensus estimate of $160.70 million. Merchants Bancorp had a return on equity of 26.78% and a net margin of 23.14%. In the same quarter last year, the company earned $1.31 per share. On average, sell-side analysts predict that Merchants Bancorp will post 6.22 EPS for the current fiscal year.

Insider trading at Merchants Bancorp

In other news, CEO Michael R. Dury acquired 5,200 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $38.71 per share, for a total transaction of $201,292.00. Following the transaction, the chief executive officer now directly owns 93,793 shares in the company, valued at approximately $3,630,727.03. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other Merchants Bancorp news, CEO Michael R. Dury acquired 6,000 shares of Merchants Bancorp stock in a transaction dated Wednesday, July 31st. The stock was bought at an average price of $44.82 per share, for a total transaction of $268,920.00. Following the transaction, the chief executive officer now owns 88,593 shares of the company’s stock, valued at approximately $3,970,738.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael R. Dury purchased 5,200 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $38.71 per share, for a total transaction of $201,292.00. Following the completion of the acquisition, the chief executive officer now directly owns 93,793 shares of the company’s stock, valued at approximately $3,630,727.03. Disclosure for this purchase can be found here. Insiders own 39.70% of the company’s shares.

Hedge Funds Affect Traders Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wedge Capital Management LLP NC raised its stake in Merchants Bancorp by 2.3% in the 4th quarter. Wedge Capital Management LLP NC now owns 15,748 shares of the company’s stock worth $671,000 after acquiring an additional 360 ​of shares during the period. Raymond James & Associates grew its position in Merchants Bancorp by 0.8% in the second quarter. Raymond James & Associates now owns 55,365 shares of the company’s stock worth $2,244,000 after purchasing an additional 414 shares during the period. MeadowBrook Investment Advisors LLC bought a new position in Merchants Bancorp in the 4th quarter valued at $26,000. Denali Advisors LLC boosted its stake in Merchants Bancorp by 0.8% in the first quarter. Denali Advisors LLC now owns 81,313 shares of the company’s stock valued at $3,511,000 after purchasing an additional 680 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Merchants Bancorp by 10.3% in the second quarter. Sei Investments Co. now owns 8,571 shares of the company’s stock valued at $347,000 after buying an additional 800 shares during the period. Institutional investors own 24.57% of the company’s shares.

Merchants Bancorp company profile

(Get a free report)

Merchants Bancorp operates as a diversified bank holding company in the United States. It operates through three segments: Multifamily Mortgage Banking, Mortgage Escrow and Banking Services. The Multi-family Mortgage Banking segment engages in mortgage banking, which originates and services government-sponsored mortgage loans, including bridge financing products for the refinancing, acquisition or repositioning of multi-family housing projects and construction loans for multi-family and healthcare facilities.

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