Merchants Bancorp (NASDAQ:MBIN) Short Interest Update

by · The Markets Daily

Merchants Bancorp (NASDAQ:MBIN – Get Free Report) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 2,239,078 shares, an increase of 53.6% from the January 29th total of 1,458,138 shares. Based on an average trading volume of 925,273 shares, the days-to-cover ratio is currently 2.4 days. Currently, 7.5% of the shares of the stock are sold short. Currently, 7.5% of the shares of the stock are sold short. Based on an average trading volume of 925,273 shares, the days-to-cover ratio is currently 2.4 days.

Merchants Bancorp Trading Up 2.6%

Shares of NASDAQ MBIN traded up $1.08 during trading hours on Monday, hitting $43.36. 268,768 shares of the company traded hands, compared to its average volume of 382,374. The company’s 50 day moving average price is $38.93 and its 200 day moving average price is $34.80. Merchants Bancorp has a 12 month low of $27.25 and a 12 month high of $48.50. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 11.47 and a beta of 1.27. The company has a current ratio of 1.10, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73.

Merchants Bancorp (NASDAQ:MBIN – Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $0.94 by $0.34. Merchants Bancorp had a net margin of 16.02% and a return on equity of 13.35%. The company had revenue of $185.29 million during the quarter, compared to analyst estimates of $170.80 million. On average, equities research analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Merchants Bancorp declared that its board has approved a share repurchase plan on Wednesday, January 28th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Merchants Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a $0.11 dividend. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 1.0%. Merchants Bancorp’s dividend payout ratio is currently 11.64%.

Insider Buying and Selling at Merchants Bancorp

In related news, insider Martin A. Schroeter sold 5,500 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $46.06, for a total transaction of $253,330.00. Following the completion of the transaction, the insider directly owned 10,881 shares of the company’s stock, valued at approximately $501,178.86. This trade represents a 33.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 34.80% of the company’s stock.

Hedge Funds Weigh In On Merchants Bancorp

Several hedge funds have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Merchants Bancorp in the fourth quarter worth $34,000. State of Alaska Department of Revenue bought a new position in shares of Merchants Bancorp in the third quarter worth about $57,000. Tower Research Capital LLC TRC increased its stake in Merchants Bancorp by 110.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock worth $73,000 after buying an additional 1,153 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Merchants Bancorp by 44.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,649 shares of the company’s stock valued at $88,000 after buying an additional 817 shares in the last quarter. Finally, CWM LLC boosted its position in Merchants Bancorp by 121.6% in the 2nd quarter. CWM LLC now owns 3,010 shares of the company’s stock valued at $100,000 after buying an additional 1,652 shares during the period. Institutional investors own 24.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MBIN shares. Weiss Ratings restated a “hold (c+)” rating on shares of Merchants Bancorp in a research report on Monday, December 29th. Zacks Research upgraded Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Morgan Stanley upped their price objective on Merchants Bancorp from $42.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.25.

Check Out Our Latest Analysis on MBIN

Merchants Bancorp Company Profile

(Get Free Report)

Merchants Bancorp (NASDAQ: MBIN) is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company’s primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.

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