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

Merchants Bancorp (NASDAQ:MBIN) announced a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.09 per share on Thursday, January 2nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, December 13th.

Merchants Bancorp has raised its dividend payment by an average of 14.5% per year over the last three years. Merchants Bancorp has a dividend payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Merchants Bancorp to earn $5.40 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 6.7%.

Merchants Bancorp Price Performance

NASDAQ:MBIN opened at $38.77 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 2.40. The business’s 50-day moving average price is $41.34 and its 200 day moving average price is $42.49. Merchants Bancorp has a 52-week low of $35.56 and a 52-week high of $53.27. The firm has a market cap of $1.77 billion, a P/E ratio of 6.42 and a beta of 1.13.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.25). Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. The business had revenue of $355.67 million during the quarter, compared to analyst estimates of $156.13 million. During the same period in the prior year, the firm earned $1.68 EPS. As a group, sell-side analysts predict that Merchants Bancorp will post 5.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler upped their price target on Merchants Bancorp from $48.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Morgan Stanley assumed coverage on Merchants Bancorp in a report on Monday, September 9th. They issued an “equal weight” rating and a $54.00 target price on the stock. Finally, Raymond James reduced their target price on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th.

Insider Transactions at Merchants Bancorp

In related news, Director Patrick D. O’brien purchased 40,000 shares of the stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the acquisition, the director now directly owns 40,000 shares in the company, valued at approximately $1,000,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 39.70% of the stock is currently owned by insiders.

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.