Merchants Bancorp’s Quiet Period Will Expire on December 6th (NASDAQ:MBIN)
Merchants Bancorp’s (NASDAQ:MBIN) quiet period is set to expire on Wednesday, December 6th. Merchants Bancorp had issued 6,250,000 shares in its initial public offering on October 27th. The total size of the offering was $100,000,000 based on an initial share price of $16.00. During Merchants Bancorp’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
A number of equities analysts have recently issued reports on MBIN shares. Sandler O’Neill started coverage on Merchants Bancorp in a report on Tuesday, November 21st. They issued a “buy” rating and a $21.00 target price for the company. SunTrust Banks started coverage on Merchants Bancorp in a report on Tuesday, November 21st. They issued a “buy” rating and a $22.00 target price for the company. Raymond James Financial started coverage on Merchants Bancorp in a report on Tuesday, November 21st. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Stephens started coverage on Merchants Bancorp in a report on Tuesday, November 21st. They issued an “overweight” rating and a $21.00 target price for the company.
Shares of Merchants Bancorp (NASDAQ:MBIN) opened at $17.75 on Wednesday. Merchants Bancorp has a twelve month low of $16.27 and a twelve month high of $19.16.
In other Merchants Bancorp news, CFO John F. Macke purchased 15,625 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was purchased at an average cost of $16.00 per share, with a total value of $250,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased a total of 18,687 shares of company stock valued at $298,992 over the last ninety days.
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