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

Merchants Bancorp (NASDAQ:MBIN) declared a quarterly dividend on Wednesday, November 19th. Shareholders of record on Monday, December 15th will be given a dividend of 0.10 per share on Friday, January 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, December 15th.

Merchants Bancorp has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Merchants Bancorp has a payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Research 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 $31.12 on Thursday. The stock has a market cap of $1.43 billion, a PE ratio of 7.15 and a beta of 1.33. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $43.82. The firm has a fifty day moving average price of $31.89 and a 200-day moving average price of $32.38. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.20 and a quick ratio of 0.88.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.18. Merchants Bancorp had a net margin of 17.73% and a return on equity of 15.37%. The company had revenue of $171.07 million during the quarter, compared to the consensus estimate of $163.90 million. Equities analysts anticipate that Merchants Bancorp will post 5.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MBIN has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $38.00 price objective (down previously from $40.00) on shares of Merchants Bancorp in a research note on Wednesday, October 29th. UBS Group set a $42.00 price target on Merchants Bancorp in a report on Thursday, October 30th. Zacks Research upgraded Merchants Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $42.00 price objective (up previously from $41.00) on shares of Merchants Bancorp in a research report on Thursday, October 30th. Finally, Wall Street Zen raised shares of Merchants Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.25.

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.