Merchants Bancorp (NASDAQ:MBIN) Increases Dividend to $0.10 Per Share

Merchants Bancorp (NASDAQ:MBIN) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.10 per share on Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.09.

Merchants Bancorp has raised its dividend by an average of 14.5% annually over the last three years. Merchants Bancorp has a payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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

NASDAQ:MBIN opened at $41.47 on Friday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 6.57 and a beta of 1.15. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The company’s 50-day moving average is $39.01 and its two-hundred day moving average is $41.18. Merchants Bancorp has a 12-month low of $34.16 and a 12-month high of $53.27.

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

Analyst Ratings Changes

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

Insider Activity

In related news, insider Scott A. Evans sold 25,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total transaction of $1,077,500.00. Following the completion of the sale, the insider now owns 27,606 shares of the company’s stock, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 39.70% of the company’s stock.

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.