Merchants Bancorp Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqCM:MBIN Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
01 May 25	BuyUS$101,992	Michael Dury	Individual	3,305	US$30.86
30 Apr 25	BuyUS$157,002	Michael Dury	Individual	5,200	US$30.37
29 Apr 25	BuyUS$122,377	Michael Dunlap	Individual	4,000	US$30.80
21 Nov 24	BuyUS$105,867	Michael Dury	Individual	2,700	US$39.21
27 Aug 24	SellUS$999,747	Michael Petrie	Individual	22,050	US$45.34
05 Aug 24	BuyUS$201,293	Michael Dury	Individual	5,200	US$39.11
31 Jul 24	BuyUS$268,944	Michael Dury	Individual	6,000	US$45.04

Insider Trading Volume

Insider Buying: MBIN insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of MBIN?
Owner Type	Number of Shares	Ownership Percentage
General Public	14,182,203	30.9%
Institutions	15,119,698	33%
Individual Insiders	16,579,805	36.1%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 59.98% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
27.4%	Michael Petrie	12,590,122	US$413.8m	-0.48%	no data
7.24%	Randall Rogers	3,321,039	US$109.2m	3.04%	no data
3.33%	BlackRock, Inc.	1,527,924	US$50.2m	0.17%	no data
3.03%	Dimensional Fund Advisors LP	1,391,748	US$45.7m	9.84%	0.01%
2.69%	The Vanguard Group, Inc.	1,233,965	US$40.6m	2.16%	no data
1.94%	Macquarie Investment Management Business Trust	888,362	US$29.2m	241%	0.04%
1.5%	Royce & Associates, LP	686,507	US$22.6m	21.2%	0.22%
1.26%	Geode Capital Management, LLC	580,347	US$19.1m	2.6%	no data
1.26%	Basswood Capital Management, L.L.C.	577,201	US$19.0m	-0.78%	1.04%
1.12%	American Century Investment Management Inc	512,942	US$16.9m	8.01%	0.01%
1.01%	State Street Global Advisors, Inc.	461,286	US$15.2m	-1.36%	no data
1%	Invesco Ltd.	458,014	US$15.1m	1.43%	no data
0.84%	1st & Main Growth Partners	385,915	US$12.7m	-3.67%	1.67%
0.69%	FJ Capital Management, LLC	316,190	US$10.4m	0%	1.05%
0.66%	Hotchkis and Wiley Capital Management, LLC	300,550	US$9.9m	24.5%	0.03%
0.65%	Marshall Wace LLP	297,799	US$9.8m	20.6%	0.01%
0.62%	Janus Henderson Group plc	286,170	US$9.4m	911%	no data
0.56%	Morgan Stanley, Investment Banking and Brokerage Investments	255,228	US$8.4m	5.16%	no data
0.49%	Valeo Financial Advisors, LLC	225,427	US$7.4m	0%	0.18%
0.48%	JP Morgan Asset Management	219,248	US$7.2m	42.3%	no data
0.47%	Royal Bank of Canada, Banking & Securities Investments	214,010	US$7.0m	0.99%	no data
0.46%	SEI Investments Company	211,716	US$7.0m	0.92%	0.01%
0.44%	Charles Schwab Investment Management, Inc.	202,352	US$6.7m	-2.38%	no data
0.41%	PL Capital Advisors, LLC	188,294	US$6.2m	0%	2.19%
0.41%	Goldman Sachs Asset Management, L.P.	188,073	US$6.2m	-44.1%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/20 06:26
End of Day Share Price	2025/05/20 00:00
Earnings	2025/03/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Merchants Bancorp is covered by 7 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Manan Gosalia	Morgan Stanley
Nathan Race	Piper Sandler Companies
David Long	Raymond James & Associates