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CARMEL, IN—Michael R. Dury, CEO of Merchants Capital, recently acquired shares of Merchants Bancorp (NASDAQ:MBIN) common stock in two separate transactions on April 30, according to a filing with the Securities and Exchange Commission. The $1.38 billion market cap company has seen its stock decline over 27% in the past year, now trading at an attractive P/E ratio of 6.2 and below book value.
Dury purchased a total of 5,200 shares at prices ranging from $29.89 to $30.37 per share, amounting to a total investment of $157,002. Following these transactions, Dury holds direct ownership of 103,269 shares of the company, along with indirect holdings as a trustee. According to InvestingPro analysis, the stock appears slightly undervalued based on its Fair Value model, with 12 additional exclusive insights available to subscribers.
These transactions reflect Dury’s continued investment in the company, where he serves as an officer. The purchases were made in multiple transactions, with the prices varying slightly within the stated range. The current stock price of $30.08 sits near its 52-week low, suggesting Dury’s timing aligns with potential value opportunities in the stock.
In other recent news, Merchants Bancorp reported first-quarter 2025 earnings that fell short of analyst expectations. The company posted a net income of $58.2 million, or $0.93 per diluted share, missing the consensus estimate of $1.22 per share by $0.29. This represents a 33% decrease in net income compared to the same period in 2024, where it was $87.1 million, or $1.80 per diluted share. Total (EPA:TTEF) revenue for the quarter was $145.9 million, marking a 13% decline year-over-year from $168 million. The company attributed these results to market uncertainty that delayed loan originations and conversions, impacting revenue and net interest margin. Additionally, Merchants Bancorp’s allowance for credit losses on loans increased to $83.4 million, up 10% from the previous year, with non-performing loans rising to 2.73% of total loans. Despite these challenges, the company’s leadership expressed confidence in its strategic direction and future performance. CEO Michael F. Petrie highlighted a strong loan pipeline and readiness to adapt once the interest rate environment stabilizes.
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