In a filing, Merchants Bancorp revealed its Chairman and CEO Petrie Michael F. unloaded Company’s shares for reported $1.0 million on Aug 27 ’24. In the deal valued at $45.34 per share,22,050 shares were sold. As a result of this transaction, Petrie Michael F. now holds 1,990,545 shares worth roughly $71.72 million.
Then, Petrie Michael F. bought 22,050 shares, generating $992,912 in total proceeds.
Before that, Rogers Randall D. sold 150,000 shares. Merchants Bancorp shares valued at $6,825,000 were divested by the Vice Chairman at a price of $45.50 per share. As a result of the transaction, Rogers Randall D. now holds 698,000 shares, worth roughly $25.15 million.
Morgan Stanley initiated its Merchants Bancorp [MBIN] rating to an Equal-weight in a research note published on September 09, 2024; the price target was $54. A number of analysts have revised their coverage, including Raymond James’s analysts, who decreased its forecast for the stock in late July from “a Strong buy” to “an Outperform”. Raymond James also remained covering MBIN and has increased its forecast on June 17, 2020 with a “Strong buy” recommendation from previously “an Outperform” rating.
Price Performance Review of MBIN
On Tuesday, Merchants Bancorp [NASDAQ:MBIN] saw its stock fall -17.91% to $36.03. Over the last five days, the stock has lost -18.21%. Merchants Bancorp shares have fallen nearly -15.38% since the year began. Nevertheless, the stocks have risen 22.93% over the past one year. While a 52-week high of $53.27 was reached on 07/29/24, a 52-week low of $28.99 was recorded on 10/29/24. SMA at 50 days reached $44.33, while 200 days put it at $42.62.
Levels Of Support And Resistance For MBIN Stock
The 24-hour chart illustrates a support level at 34.10, which if violated will result in even more drops to 32.16. On the upside, there is a resistance level at 39.87. A further resistance level may holdings at 43.70. The Relative Strength Index (RSI) on the 14-day chart is 25.42, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.92, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 99.72%. Stochastics %K at 8.96% indicates the stock is a buying.
How much short interest is there in Merchants Bancorp?
A steep rise in short interest was recorded in Merchants Bancorp stocks on 2024-10-15, growing by 0.12 million shares to a total of 0.96 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 0.85 million shares. There was a rise of 11.97%, which implies that there is a positive sentiment for the stock.
