Procore signs multi-year strategic collaboration agreement with AWS
In a recent move, Michael R. Dury, CEO of Merchants Capital, a division of Merchants Bancorp (NASDAQ:MBIN), purchased 3,305 shares of the company’s common stock. The shares were acquired at an average price of $30.86, with the total transaction amounting to approximately $101,992. This purchase was executed on May 1, 2025.
Following this transaction, Dury holds 106,574 shares directly, which includes 13,378 unvested restricted stock units. Additionally, he has indirect ownership of 18,200 shares as the trustee of the Michael R. Dury GRAT - 2023. In terms of other holdings, Dury directly owns 26,000 Series C Depositary Shares and 4,000 Series D Depositary Shares. The company, with a market capitalization of $1.41 billion, maintains a dividend yield of 1.3% and has raised its dividend for eight consecutive years.
This acquisition reflects Dury’s continued investment in Merchants Bancorp, a financial institution based in Carmel, Indiana.
In other recent news, Merchants Bancorp reported its first quarter 2025 earnings, which 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 $87.1 million, or $1.80 per diluted share, in the same quarter of the previous year. Total (EPA:TTEF) revenue for the quarter was $145.9 million, down 13% year-over-year from $168 million. The company attributed these declines to market uncertainty that delayed loan originations and conversions, impacting gain on sale revenue and net interest margin. Merchants Bancorp’s allowance for credit losses on loans increased to $83.4 million, a 10% rise from the previous year, primarily due to issues within the multi-family loan portfolio. Additionally, non-performing loans rose to 2.73% of total loans, compared to 1.22% in the first quarter of 2024. Despite these challenges, the company’s leadership expressed confidence in their strategic direction and future performance outlook.
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