Merchants Bancorp (NASDAQ:MBIN) Short Interest Up 53.6% in February

Merchants Bancorp (NASDAQ:MBIN) saw a significant growth in short interest in February. As of February 13th, there was short interest totaling 2,239,078 shares, a growth of 53.6% from the January 29th total of 1,458,138 shares. Based on an average daily trading volume, of 925,273 shares, the days-to-cover ratio is currently 2.4 days. Approximately 7.5% of the shares of the company are sold short. Approximately 7.5% of the shares of the company are sold short. Based on an average daily trading volume, of 925,273 shares, the days-to-cover ratio is currently 2.4 days.

Insider Activity

In related news, insider Martin A. Schroeter sold 5,500 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $46.06, for a total value of $253,330.00. Following the transaction, the insider directly owned 10,881 shares in the company, valued at approximately $501,178.86. This 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. Insiders own 34.80% of the company’s stock.

Hedge Funds Weigh In On Merchants Bancorp

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

Merchants Bancorp Trading Down 3.8%

Shares of MBIN opened at $42.28 on Friday. Merchants Bancorp has a 52-week low of $27.25 and a 52-week high of $48.50. The business’s fifty day moving average is $38.93 and its 200-day moving average is $34.79. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 1.10. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 11.19 and a beta of 1.27.

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

Merchants Bancorp declared that its Board of Directors has approved a share buyback plan on Wednesday, January 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Merchants Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.0%. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 13th. Merchants Bancorp’s dividend payout ratio (DPR) is currently 10.58%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MBIN. Wall Street Zen raised shares of Merchants Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Morgan Stanley raised their price objective on Merchants Bancorp from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Zacks Research raised Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Merchants Bancorp in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Merchants Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

About Merchants Bancorp

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.