In a filing, Merchants Bancorp revealed its Chairman and CEO Petrie Michael F. unloaded Company’s shares for reported $20638.0 on Aug 10. In the deal valued at $31.80 per share,649 shares were sold. As a result of this transaction, Petrie Michael F. now holds 2,046,575 shares worth roughly $ 60.5 million.
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Then, Petrie Michael F. bought 17,100 shares, generating $378,765 in total proceeds. Upon buying the shares at $22.15, the Chairman and CEO now owns 21,021 shares.
Before that, Petrie Michael F. sold 11,778 shares. Merchants Bancorp shares valued at $373,363 were divested by the Chairman and CEO at a price of $31.70 per share. As a result of the transaction, Petrie Michael F. now holds 2,047,224 shares, worth roughly $60.52 million.
Raymond James upgraded its Merchants Bancorp [MBIN] rating to a Strong buy from a an Outperform in a research note published on Friday.
Price Performance Review of MBIN
On Friday, Merchants Bancorp [NASDAQ:MBIN] saw its stock jump 1.34% to $29.56. On the same session, the stock had its day’s lowest price of $29.33, but rose to a high of $29.975. Over the last five days, the stock has gained 2.00%. Merchants Bancorp shares have risen nearly 21.55% since the year began. Nevertheless, the stocks have risen 9.60% over the past one year. While a 52-week high of $33.58 was reached on 07/31/23, a 52-week low of $21.50 was recorded on 05/04/23. SMA at 50 days reached $28.79, while 200 days put it at $26.66. A total of 51770.0 shares were traded, compared to the trading of 44000.0 shares in the previous session.
Levels Of Support And Resistance For MBIN Stock
The 24-hour chart illustrates a support level at 29.27, which if violated will result in even more drops to 28.98. On the upside, there is a resistance level at 29.91. A further resistance level may holdings at 30.27. The Relative Strength Index (RSI) on the 14-day chart is 51.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 53.00%. Stochastics %K at 27.88% indicates the stock is a holding.
How much short interest is there in Merchants Bancorp?
A steep rise in short interest was recorded in Merchants Bancorp stocks on Aug 14, 2023, dropping by 40770.0 shares to a total of 0.31 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.35 million shares. There was a decline of -13.23%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.20% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.06.
Merchants Bancorp [MBIN] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 1,253,427 shares, or roughly 2.90% of the outstanding MBIN shares. In other words, the investor’s shares have risen by 15,552 from its previous 13-F filing of 1237875.0. Additionally, The Vanguard Group, Inc. increased 1.28% of its stake after which the total value it holdings stand at $28,484,182, while Basswood Capital Management LLC added 5.24% of its stake to hold $24.39 million in the firm. Over the last quarter, Dimensional Fund Advisors LP purchased 72,816 shares of Merchants Bancorp, while JPMorgan Investment Management, I bought 90,246 shares. At present, The Banc Funds Co LLC is holding 509,700 shares valued at $16.11 million. Geode Capital Management LLC owned 453,340 shares of the company at the time of its most recent 13F filing, worth $14.33 million.
According to FactSet, Merchants Bancorp’s share price will average $39.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 35.41 percent from its previous closing price of $29.17. Analysts expect Merchants Bancorp stock to reach the higher price of $41.00, while the lowest price estimate is $38.00. However, 2 analysts have rated MBIN stock as a Buy in their predictions for 2023.