Merchants Bancorp (NASDAQ:MBIN) Declares Quarterly Dividend of $0.09

Merchants Bancorp (NASDAQ:MBIN) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.09 per share on Thursday, January 2nd. This represents a $0.36 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, December 13th.

Merchants Bancorp has increased its dividend by an average of 14.5% per year over the last three years. Merchants Bancorp has a payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Merchants Bancorp to earn $5.42 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 6.6%.

Merchants Bancorp Stock Performance

MBIN traded up $1.18 during midday trading on Thursday, hitting $39.37. 163,906 shares of the company were exchanged, compared to its average volume of 180,505. The company’s 50 day simple moving average is $42.58 and its 200 day simple moving average is $42.87. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 6.32 and a beta of 1.12. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. Merchants Bancorp has a 1-year low of $32.52 and a 1-year high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). Merchants Bancorp had a net margin of 21.33% and a return on equity of 22.36%. The business had revenue of $355.67 million for the quarter, compared to analyst estimates of $156.13 million. During the same quarter last year, the business earned $1.68 earnings per share. As a group, sell-side analysts predict that Merchants Bancorp will post 5.77 earnings per share for the current year.

Insider Activity at Merchants Bancorp

In other Merchants Bancorp news, Director Patrick D. O’brien bought 40,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were acquired at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at $1,000,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael F. Petrie sold 22,050 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total transaction of $999,747.00. Following the completion of the transaction, the chief executive officer now directly owns 1,990,545 shares in the company, valued at $90,251,310.30. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Morgan Stanley assumed coverage on Merchants Bancorp in a research report on Monday, September 9th. They set an “equal weight” rating and a $54.00 target price on the stock. Raymond James dropped their target price on 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, Piper Sandler restated an “overweight” rating and set a $48.00 target price (down from $56.00) on shares of Merchants Bancorp in a research report on Wednesday, October 30th.

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.