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

Merchants Bancorp (NASDAQ:MBIN) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Investors 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 annualized dividend and a 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 payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 0.3 %

NASDAQ:MBIN opened at $42.71 on Friday. The company has a market cap of $1.95 billion, a PE ratio of 6.77 and a beta of 1.15. Merchants Bancorp has a one year low of $34.16 and a one year high of $53.27. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $39.01 and its 200 day simple moving average is $41.18.

Merchants Bancorp (NASDAQ:MBIN) last issued its quarterly earnings results on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current year.

Insider Activity

In other news, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 39.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MBIN shares. Raymond James restated an “outperform” rating and issued a $53.00 price target (up previously from $50.00) on shares of Merchants Bancorp in a research report on Thursday, January 30th. Piper Sandler lifted 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.

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.