Merchants Bancorp (NASDAQ:MBIN) Declares Quarterly Dividend of $0.10

Merchants Bancorp (NASDAQ:MBIN) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 0.94%. This is a boost from Merchants Bancorp’s previous quarterly dividend of $0.09.

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

Shares of NASDAQ MBIN traded down $0.11 during mid-day trading on Thursday, reaching $42.71. 90,714 shares of the company traded hands, compared to its average volume of 170,382. The firm has a market cap of $1.95 billion, a PE ratio of 6.77 and a beta of 1.15. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. Merchants Bancorp has a fifty-two week low of $34.16 and a fifty-two week high of $53.27. The stock has a fifty day simple moving average of $38.92 and a 200-day simple moving average of $41.17.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, February 3rd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. Equities research analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Scott A. Evans sold 25,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 27,606 shares in the company, valued at approximately $1,189,818.60. This represents a 47.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 39.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Piper Sandler boosted their target price on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Raymond James reaffirmed an “outperform” rating and issued a $53.00 price target (up previously from $50.00) on shares of Merchants Bancorp in a report on Thursday, January 30th.

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.