Merchants Bancorp (NASDAQ:MBIN) Declares Quarterly Dividend of $0.08

Merchants Bancorp (NASDAQ:MBIN) declared a quarterly dividend on Wednesday, November 15th, Zacks reports. Stockholders of record on Friday, December 15th will be paid a dividend of 0.08 per share on Tuesday, January 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, December 14th.

Merchants Bancorp has increased its dividend payment by an average of 14.5% annually over the last three years and has raised its dividend every year for the last 6 years. Merchants Bancorp has a dividend payout ratio of 5.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Merchants Bancorp to earn $5.39 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 5.9%.

Merchants Bancorp Price Performance

NASDAQ:MBIN opened at $32.60 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 1.46. The business’s 50-day moving average price is $28.59 and its 200 day moving average price is $27.54. Merchants Bancorp has a 52-week low of $21.50 and a 52-week high of $33.58. The firm has a market cap of $1.41 billion, a P/E ratio of 6.29 and a beta of 1.15.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Thursday, October 26th. The company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.32 by $0.36. The business had revenue of $153.50 million during the quarter, compared to analyst estimates of $135.55 million. Merchants Bancorp had a net margin of 24.64% and a return on equity of 24.90%. As a group, sell-side analysts predict that Merchants Bancorp will post 5.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Piper Sandler boosted their target price on Merchants Bancorp from $31.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Raymond James upped their price objective on shares of Merchants Bancorp from $41.00 to $44.00 and gave the company a “strong-buy” rating in a research note on Monday, October 30th.

Insider Buying and Selling at Merchants Bancorp

In other news, Vice Chairman Randall D. Rogers sold 2,300 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $28.25, for a total value of $64,975.00. Following the completion of the sale, the insider now owns 97,894 shares of the company’s stock, valued at $2,765,505.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Michael R. Dury acquired 14,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was acquired at an average cost of $18.26 per share, for a total transaction of $255,640.00. Following the completion of the acquisition, the chief executive officer now owns 26,000 shares in the company, valued at $474,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Randall D. Rogers sold 2,300 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $28.25, for a total value of $64,975.00. Following the completion of the transaction, the insider now owns 97,894 shares in the company, valued at approximately $2,765,505.50. The disclosure for this sale can be found here. Insiders have sold a total of 24,186 shares of company stock valued at $759,673 in the last three months. 40.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Merchants Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in MBIN. FMR LLC raised its position in Merchants Bancorp by 43.4% during the first quarter. FMR LLC now owns 1,507 shares of the company’s stock valued at $39,000 after acquiring an additional 456 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Merchants Bancorp by 1,150.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,140 shares of the company’s stock valued at $115,000 after purchasing an additional 3,809 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Merchants Bancorp by 9.6% in the 1st quarter. Advisory Services Network LLC now owns 4,847 shares of the company’s stock valued at $126,000 after purchasing an additional 425 shares during the last quarter. Fairfield Bush & CO. bought a new stake in Merchants Bancorp in the second quarter worth $136,000. Finally, Legal & General Group Plc increased its position in Merchants Bancorp by 6.0% during the fourth quarter. Legal & General Group Plc now owns 6,052 shares of the company’s stock worth $147,000 after buying an additional 345 shares during the last quarter. 24.57% of the stock is owned by hedge funds and other institutional investors.

About Merchants Bancorp

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. 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; offers customized loan products for need-based skilled nursing facilities, independent living, assisted living, and memory care; and tax credit equity syndicator.