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The company

Merchants Bancorp

MBIN · Nasdaq

FinancialsRegional banksSetting up

MBIN stood above a rising 150-day average in 44 of the last 52 weekly readings, and has been out of that trend for the last 2 weeks. It is 2.9% below that average now. Banks — Regional & Community: 65% of its 291 stocks in an uptrend (−6 points in four weeks); Financials: 49% (−4 points in four weeks).

SEC filings

Statistics

Rotation: Setting up
Weeks in an uptrend: out for 2
Industry in uptrend: 65% -6 in 4 wk
Insider buys, 12 months: $490K
Insider sales, 12 months: $10.5M
Officials’ trades on record: 4
Institutions holding: 171 (+10)

In the rotation

Each square a week: lit when it closed above a rising 150-day average. 44 of 52 weeks.

22 Apr – 21 Oct

Regional banks: Most of its stocks are in an uptrend and the share has been slipping. Financials: About half its stocks are in an uptrend and the share has been slipping.

Money in and out

1 Nov 2024 – 1 Oct 2026

Open-market buys above the line and sales below, in dollars.

Congress and officials

4 disclosed lines: House 0, Senate 0, executive 4; 1 people.

Who	Did	Amount	Traded
Donald J. Trump Executive branch: Office of Government EthicsWhite House Office	sold	$15k–$50k	15 May 2026filed 1 Jul 2026
Donald J. Trump Executive branch: Office of Government EthicsWhite House Office	bought	$15k–$50k	30 Mar 2026filed 14 May 2026
Donald J. Trump Executive branch: Office of Government EthicsWhite House Office	sold	$15k–$50k	26 Feb 2026filed 14 May 2026
Donald J. Trump Executive branch: Office of Government EthicsWhite House Office	bought	$15k–$50k	12 Feb 2026filed 14 May 2026

Insiders

Buy orders, 12 months1

Sale orders, 12 months32

Buyers · sellers1 · 3

Who	Did	Shares	Traded
Michael F. PetrieChairman and CEO	sold	9,000at $55.20	30 Jul 2026filed 31 Jul 2026
Julia L. KaercherDirector	sold	9,000at $55.20	30 Jul 2026filed 31 Jul 2026
Michael F. PetrieChairman and CEO	sold	8,334at $46.86	6 May 2026filed 7 May 2026
Michael F. PetrieChairman and CEO	sold	20,000at $46.75	5 May 2026filed 7 May 2026
Michael F. PetrieChairman and CEO	sold	10,696at $46.75	5 May 2026filed 7 May 2026
Michael F. PetrieChairman and CEO	sold	13,871at $20.25	26 Feb 2026filed 27 Feb 2026
Michael F. PetrieChairman and CEO	sold	15,000at $44.05	26 Feb 2026filed 27 Feb 2026
Michael F. PetrieChairman and CEO	sold	377at $20.20	25 Feb 2026filed 27 Feb 2026
Michael F. PetrieChairman and CEO	sold	1,502at $20.20	18 Feb 2026filed 19 Feb 2026
Michael F. PetrieChairman and CEO	sold	100at $20.20	17 Feb 2026filed 19 Feb 2026
Michael F. PetrieChairman and CEO	sold	4,455at $20.20	10 Feb 2026filed 12 Feb 2026
Martin A. SchroeterPresident-Warehouse Lending	sold	5,500at $46.06	10 Feb 2026filed 12 Feb 2026

Lines filed since 2 January 2026, newest first; every insider’s older lines are on their own page.

Institutions

Holders171+10 on the quarter

New · exited31 · 20

Reported value$2.3B

Quarter to 30 Jun 2026, against 31 Mar 2026; newest filing 31 Aug 2026.

Manager	Shares	Change
Elser Financial Planning, Increduced · filed 14 Jul 2026	26,808,625$1.3B	-174,476−0.6%
BlackRock, Inc.added · filed 7 Aug 2026	4,105,193$205.3M	+54,275+1.3%
DIMENSIONAL FUND ADVISORS LPadded · filed 11 Aug 2026	1,827,144$91.4M	+68,159+3.9%
STATE STREET CORPadded · filed 7 Aug 2026	1,066,972$53.5M	+32,340+3.1%
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.reduced · filed 14 Aug 2026	1,044,992$52.3M	-48,012−4.4%
VANGUARD CAPITAL MANAGEMENT LLCadded · filed 13 Aug 2026	1,015,813$50.8M	+15,037+1.5%
AMERICAN CENTURY COMPANIES INCadded · filed 12 Aug 2026	837,052$41.9M	+94,417+12.7%
Doma Perpetual Capital Management LLCreduced · filed 12 Aug 2026	810,082$40.5M	-305,512−27.4%
GEODE CAPITAL MANAGEMENT, LLCadded · filed 12 Aug 2026	740,326$37.0M	+14,891+2.1%
ROYCE & ASSOCIATES LPreduced · filed 14 Aug 2026	527,047$26.4M	-40,220−7.1%