Merchants Bancorp (NASDAQ:MBIN) Raises Dividend to $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 dividend on an annualized basis and a yield of 0.94%. This is a positive change 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. 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 Stock Performance

Shares of MBIN stock opened at $42.71 on Friday. The firm has a market capitalization of $1.95 billion, a PE ratio of 6.77 and a beta of 1.15. The firm has a fifty day simple moving average of $39.01 and a two-hundred day simple moving average of $41.18. 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 12 month low of $34.16 and a 12 month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last posted its quarterly earnings data 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%. Analysts forecast that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Scott A. Evans sold 25,000 shares of the business’s stock in a transaction dated 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 directly owns 27,606 shares of the company’s stock, valued at approximately $1,189,818.60. The trade was a 47.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 39.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MBIN. Raymond James reaffirmed an “outperform” rating and set a $53.00 price objective (up from $50.00) on shares of Merchants Bancorp in a 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 stock an “overweight” rating in a report 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.