Merchants Bancorp (MBIN) to Issue Quarterly Dividend of $0.10 on January 2nd

Merchants Bancorp (NASDAQ:MBIN) announced a quarterly dividend on Wednesday, November 19th. Investors of record on Monday, December 15th will be given a dividend of 0.10 per share on Friday, January 2nd. This represents a c) annualized dividend 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%annually over the last three years and has increased 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. 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 Trading Down 2.2%

NASDAQ MBIN opened at $30.42 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.88 and a current ratio of 1.20. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 6.99 and a beta of 1.33. The firm has a 50 day simple moving average of $31.86 and a 200-day simple moving average of $32.37. Merchants Bancorp has a one year low of $27.25 and a one year high of $43.82.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Tuesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $163.90 million. Equities research analysts anticipate that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MBIN. Russell Investments Group Ltd. grew its holdings in shares of Merchants Bancorp by 56.9% during the first quarter. Russell Investments Group Ltd. now owns 86,629 shares of the company’s stock worth $3,205,000 after purchasing an additional 31,433 shares during the last quarter. Elser Financial Planning Inc purchased a new stake in shares of Merchants Bancorp in the 2nd quarter valued at about $934,497,000. Vanguard Group Inc. lifted its holdings in shares of Merchants Bancorp by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,233,965 shares of the company’s stock valued at $45,657,000 after purchasing an additional 26,111 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of Merchants Bancorp in the 2nd quarter valued at about $390,000. Finally, Nuveen LLC purchased a new position in Merchants Bancorp during the 1st quarter worth approximately $5,275,000. 24.57% of the stock is owned by hedge funds and other institutional investors.

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.