Merchants Bancorp (MBIN) to Issue Quarterly Dividend of $0.11 on October 1st

Merchants Bancorp (NASDAQ:MBIN) announced a quarterly dividend on Thursday, August 20th. Investors of record on Tuesday, September 15th will be paid a dividend of 0.11 per share on Thursday, October 1st. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th.

Merchants Bancorp has raised 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 8.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Merchants Bancorp to earn $5.99 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 7.3%.

Merchants Bancorp Stock Performance

MBIN stock opened at $54.69 on Friday. The business’s 50-day moving average price is $50.98 and its two-hundred day moving average price is $47.31. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32. The firm has a market cap of $2.51 billion, a PE ratio of 10.98 and a beta of 1.14. Merchants Bancorp has a 1-year low of $30.37 and a 1-year high of $56.87.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.26. The company had revenue of $182.22 million during the quarter, compared to the consensus estimate of $179.00 million. Merchants Bancorp had a return on equity of 15.29% and a net margin of 19.80%. As a group, research analysts forecast that Merchants Bancorp will post 5.58 earnings per share for the current year.

About Merchants Bancorp

Merchants Bancorp (NASDAQ: MBIN) is the bank holding company for Merchants Bank, a regional financial institution headquartered in Buffalo, New York. Through its network of branches and digital platforms, the company offers a range of banking services across western and central New York. Merchants Bancorp operates as a full‐service commercial bank, serving small and medium-sized businesses, professionals, families and individuals in its core markets.

The company’s primary activities include deposit taking, commercial and consumer lending, mortgage origination, and treasury management services.