Merchants Bancorp (MBIN) to Issue Quarterly Dividend of $0.09 on January 2nd

Merchants Bancorp (NASDAQ:MBIN) announced a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Investors of record on Friday, December 13th will be given a dividend of 0.09 per share on Thursday, January 2nd. This represents a $0.36 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, December 13th.

Merchants Bancorp has raised its dividend by an average of 14.5% per year over the last three years. Merchants Bancorp has a dividend payout ratio of 6.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Merchants Bancorp to earn $5.40 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 6.7%.

Merchants Bancorp Price Performance

MBIN opened at $38.77 on Wednesday. The company has a market capitalization of $1.77 billion, a P/E ratio of 6.42 and a beta of 1.13. The company has a 50-day moving average of $41.34 and a 200-day moving average of $42.49. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. Merchants Bancorp has a 1-year low of $35.56 and a 1-year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The firm had revenue of $355.67 million during the quarter, compared to the consensus estimate of $156.13 million. During the same period in the prior year, the firm earned $1.68 earnings per share. Equities analysts expect that Merchants Bancorp will post 5.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Patrick D. O’brien purchased 40,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were bought at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the purchase, the director now owns 40,000 shares of the company’s stock, valued at $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 39.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MBIN shares. Piper Sandler raised their price objective on Merchants Bancorp from $48.00 to $52.50 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Raymond James reduced their price target on shares of Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Finally, Morgan Stanley initiated coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price objective for the company.

About Merchants Bancorp

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.