Merchants Bancorp (NASDAQ:MBIN) to Issue Dividend Increase – $0.10 Per Share

Merchants Bancorp (NASDAQ:MBIN) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.10 per share on Tuesday, April 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.94%. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.09.

Merchants Bancorp has raised its dividend payment by an average of 14.5% per year over the last three years. Merchants Bancorp has a dividend payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Merchants Bancorp to earn $5.95 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 6.1%.

Merchants Bancorp Price Performance

MBIN traded down $0.11 on Thursday, hitting $42.71. 90,714 shares of the company were exchanged, compared to its average volume of 170,382. The business’s fifty day moving average is $38.92 and its 200 day moving average is $41.17. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.15. The firm has a market capitalization of $1.95 billion, a P/E ratio of 6.77 and a beta of 1.15. Merchants Bancorp has a fifty-two week low of $34.16 and a fifty-two week high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its earnings results on Monday, February 3rd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. As a group, sell-side analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Merchants Bancorp from $52.50 to $56.50 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Raymond James restated an “outperform” rating and set a $53.00 price target (up from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total value of $1,077,500.00. Following the transaction, the insider now owns 27,606 shares in the company, valued at $1,189,818.60. The trade was a 47.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 39.70% of the stock is owned by corporate insiders.

Merchants Bancorp Company Profile

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.