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

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Investors of record on Friday, March 14th will be given a dividend of 0.10 per share on Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Merchants Bancorp's previous quarterly dividend of $0.09.

Merchants Bancorp has increased its dividend payment by an average of 14.5% annually over the last three years. Merchants Bancorp has a payout ratio of 6.1% indicating that 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 $0.36 annual dividend with an expected future payout ratio of 6.1%.

Merchants Bancorp Stock Down 2.9 %

NASDAQ:MBIN traded down $1.24 during mid-day trading on Friday, reaching $41.47. The stock had a trading volume of 97,203 shares, compared to its average volume of 168,840. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 6.57 and a beta of 1.15. Merchants Bancorp has a 1-year low of $34.16 and a 1-year high of $53.27. The stock's 50 day simple moving average is $39.07 and its two-hundred day simple moving average is $41.20. 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 (NASDAQ:MBIN - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.58. Merchants Bancorp had a return on equity of 22.86% and a net margin of 22.08%. Equities analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current year.

Insider Buying and Selling at Merchants Bancorp

In other Merchants Bancorp news, insider Scott A. Evans sold 25,000 shares of Merchants Bancorp stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $43.10, for a total value of $1,077,500.00. Following the completion of the transaction, the insider now directly owns 27,606 shares in the company, valued at $1,189,818.60. The trade was a 47.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 39.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler lifted their price target on Merchants Bancorp from $52.50 to $56.50 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Raymond James restated an "outperform" rating and issued a $53.00 target price (up from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th.

Merchants Bancorp Company Profile

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.