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

Merchants Bancorp (NASDAQ:MBIN) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders 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 0.91%. The ex-dividend date is Friday, December 13th.

Merchants Bancorp has increased its dividend payment by an average of 14.5% per year over the last three years. Merchants Bancorp has a dividend payout ratio of 6.5% meaning 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 Stock Performance

Shares of Merchants Bancorp stock opened at $39.40 on Friday. Merchants Bancorp has a 12 month low of $32.52 and a 12 month high of $53.27. 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 stock has a market cap of $1.80 billion, a PE ratio of 6.52 and a beta of 1.12. The business has a fifty day simple moving average of $42.58 and a 200-day simple moving average of $42.87.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, October 28th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.25). The business 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 quarter in the previous year, the business posted $1.68 earnings per share. On average, sell-side analysts anticipate that Merchants Bancorp will post 5.77 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael F. Petrie sold 22,050 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total transaction of $999,747.00. Following the transaction, the chief executive officer now owns 1,990,545 shares in the company, valued at $90,251,310.30. This represents a 1.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Patrick D. O’brien acquired 40,000 shares of Merchants Bancorp stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the purchase, the director now owns 40,000 shares in the company, valued at $1,000,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 39.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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