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

Merchants Bancorp (NASDAQ:MBIN) declared a quarterly dividend on Thursday, May 15th, RTT News reports. Stockholders 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 dividend yield of 1.20%.

Merchants Bancorp has increased its dividend by an average of 14.5% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Merchants Bancorp has a dividend 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

Merchants Bancorp stock opened at $33.26 on Friday. The business has a 50 day moving average of $34.14 and a 200-day moving average of $37.52. Merchants Bancorp has a 1 year low of $27.25 and a 1 year high of $53.27. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The company has a market capitalization of $1.53 billion, a P/E ratio of 5.27 and a beta of 1.31.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley reduced their target price on Merchants Bancorp from $47.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Raymond James restated an “outperform” rating and set a $41.00 price target (down from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th. Finally, Piper Sandler increased their price target on Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a report on Thursday, January 30th.

Hedge Funds Weigh In On Merchants Bancorp

A hedge fund recently raised its stake in Merchants Bancorp stock. Royal Bank of Canada increased its position in Merchants Bancorp (NASDAQ:MBIN) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 approximately 0.48% of Merchants Bancorp worth $8,146,000 at the end of the most recent quarter. 24.57% of the stock is currently owned by institutional investors and hedge funds.

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.