Merchants Bancorp (NASDAQ:MBIN) Declares Quarterly Dividend of $0.10

Merchants Bancorp (NASDAQ:MBIN) declared a quarterly dividend on Thursday, May 15th, RTT News reports. Shareholders of record on Friday, June 13th will be given a dividend of 0.10 per share on Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, June 13th.

Merchants Bancorp has increased its dividend by an average of 14.5% per year over the last three years and has raised its dividend every year for the last 8 years. Merchants Bancorp has a payout ratio of 7.5% 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 $0.40 annual dividend with an expected future payout ratio of 6.7%.

Merchants Bancorp Stock Performance

Shares of NASDAQ:MBIN opened at $33.37 on Friday. The company’s 50 day simple moving average is $34.14 and its 200 day simple moving average is $37.52. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $53.27. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 5.29 and a beta of 1.31.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.32). Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. The business had revenue of $287.20 million for the quarter, compared to the consensus estimate of $169.00 million. As a group, research analysts predict that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MBIN has been the topic of several recent research reports. Piper Sandler lifted their target price on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Raymond James restated an “outperform” rating and issued a $41.00 price objective (down from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th. Finally, Morgan Stanley reduced their price target on Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th.

Hedge Funds Weigh In On Merchants Bancorp

An institutional investor recently raised its position in Merchants Bancorp stock. Royal Bank of Canada lifted its position in shares of Merchants Bancorp (NASDAQ:MBIN) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 220,170 shares of the company’s stock after purchasing an additional 2,101 shares during the period. Royal Bank of Canada owned 0.48% of Merchants Bancorp worth $8,146,000 at the end of the most recent quarter. Institutional investors own 24.57% 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.