Merchants Bancorp Declares Quarterly Dividend of $0.11 (NASDAQ:MBIN)

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

Merchants Bancorp has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 8 years. Merchants Bancorp has a 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 Trading Up 1.2%

Shares of NASDAQ MBIN opened at $54.13 on Friday. Merchants Bancorp has a twelve month low of $30.37 and a twelve month high of $56.87. The firm has a market cap of $2.49 billion, a PE ratio of 10.87 and a beta of 1.14. The business has a fifty day simple moving average of $50.89 and a two-hundred day simple moving average of $47.26. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.32.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Zacks Research raised Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Morgan Stanley restated a “positive” rating and issued a $49.00 price objective (up from $46.00) on shares of Merchants Bancorp in a research report on Monday, June 29th. Raymond James Financial cut shares of Merchants Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Merchants Bancorp in a research note on Friday, July 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $64.00 price objective on shares of Merchants Bancorp in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $51.50.

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.