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

Merchants Bancorp (NASDAQ:MBIN) announced a quarterly dividend on Thursday, May 15th, RTT News reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.10 per share on Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 1.20%.

Merchants Bancorp has increased its dividend payment by an average of 14.5% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Merchants Bancorp has a payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.7%

Shares of Merchants Bancorp stock opened at $33.26 on Friday. The firm has a market capitalization of $1.53 billion, a PE ratio of 5.27 and a beta of 1.31. 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’s fifty day moving average price is $34.14 and its two-hundred day moving average price is $37.52. Merchants Bancorp has a 52-week low of $27.25 and a 52-week high of $53.27.

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

Hedge Funds Weigh In On Merchants Bancorp

A hedge fund recently raised its stake in Merchants Bancorp stock. Royal Bank of Canada grew its holdings in shares of Merchants Bancorp (NASDAQ:MBIN) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 220,170 shares of the company’s stock after acquiring an additional 2,101 shares during the quarter. Royal Bank of Canada owned 0.48% of Merchants Bancorp worth $8,146,000 at the end of the most recent quarter. 24.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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