Merchants Bancorp (MBIN) to Issue Quarterly Dividend of $0.09 on January 2nd

Merchants Bancorp (NASDAQ:MBIN) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Investors 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 0.88%. 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 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 Trading Up 4.3 %

Shares of NASDAQ MBIN opened at $41.09 on Friday. Merchants Bancorp has a 1-year low of $32.52 and a 1-year high of $53.27. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The company has a 50-day moving average of $42.52 and a two-hundred day moving average of $42.85. The company has a market cap of $1.88 billion, a PE ratio of 6.80 and a beta of 1.12.

Merchants Bancorp (NASDAQ:MBIN) last posted 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). The firm had revenue of $355.67 million for the quarter, compared to analyst estimates of $156.13 million. Merchants Bancorp had a return on equity of 22.36% and a net margin of 21.33%. During the same period in the prior year, the company posted $1.68 EPS. As a group, equities analysts expect that Merchants Bancorp will post 5.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MBIN. Morgan Stanley started coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price target for the company. Piper Sandler reiterated an “overweight” rating and issued a $48.00 price objective (down previously from $56.00) on shares of Merchants Bancorp in a report on Wednesday, October 30th. Finally, Raymond James reduced their target price on Merchants Bancorp from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th.

Insider Transactions at Merchants Bancorp

In other news, Director Patrick D. O’brien acquired 40,000 shares of Merchants Bancorp stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $1,000,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Petrie sold 22,050 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $45.34, for a total value of $999,747.00. Following the transaction, the chief executive officer now owns 1,990,545 shares of the company’s stock, valued at approximately $90,251,310.30. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 39.70% of the company’s stock.

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.