Merchants Bancorp (NASDAQ:MBIN) Declares Quarterly Dividend of $0.07

Merchants Bancorp (NASDAQ:MBINGet Rating) announced a quarterly dividend on Thursday, May 19th, Zacks reports. Investors of record on Wednesday, June 15th will be given a dividend of 0.07 per share on Friday, July 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Tuesday, June 14th.

Merchants Bancorp has raised its dividend by an average of 14.5% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Merchants Bancorp has a payout ratio of 6.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Merchants Bancorp to earn $4.21 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 6.7%.

Shares of MBIN stock opened at $23.56 on Friday. The company has a market cap of $1.02 billion, a PE ratio of 4.71 and a beta of 1.06. The stock’s 50 day simple moving average is $25.75 and its two-hundred day simple moving average is $28.90. Merchants Bancorp has a 1 year low of $22.11 and a 1 year high of $33.57. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.16 and a quick ratio of 0.86.

Merchants Bancorp (NASDAQ:MBINGet Rating) last released its earnings results on Thursday, April 28th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. The firm had revenue of $100.32 million for the quarter, compared to analysts’ expectations of $100.40 million. Merchants Bancorp had a return on equity of 28.10% and a net margin of 47.17%. Equities research analysts expect that Merchants Bancorp will post 3.98 EPS for the current year.

In related news, Vice Chairman Randall D. Rogers bought 12,145 shares of the company’s stock in a transaction on Tuesday, March 15th. The shares were acquired at an average price of $24.50 per share, with a total value of $297,552.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael R. Dury bought 4,500 shares of the company’s stock in a transaction on Friday, May 13th. The shares were bought at an average cost of $23.26 per share, for a total transaction of $104,670.00. Following the transaction, the chief executive officer now directly owns 93,260 shares in the company, valued at approximately $2,169,227.60. The disclosure for this purchase can be found here. 40.75% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Merchants Bancorp by 49.2% during the 1st quarter. BlackRock Inc. now owns 1,787,815 shares of the company’s stock valued at $48,949,000 after purchasing an additional 589,154 shares during the last quarter. Vanguard Group Inc. raised its stake in Merchants Bancorp by 31.4% in the 1st quarter. Vanguard Group Inc. now owns 788,591 shares of the company’s stock worth $21,592,000 after acquiring an additional 188,466 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Merchants Bancorp by 53.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 388,830 shares of the company’s stock worth $10,647,000 after acquiring an additional 136,211 shares during the last quarter. State Street Corp raised its stake in Merchants Bancorp by 51.9% in the 1st quarter. State Street Corp now owns 349,281 shares of the company’s stock worth $9,587,000 after acquiring an additional 119,299 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Merchants Bancorp by 49.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 315,174 shares of the company’s stock worth $8,630,000 after acquiring an additional 103,961 shares during the last quarter. Hedge funds and other institutional investors own 14.78% of the company’s stock.

Separately, Zacks Investment Research raised Merchants Bancorp from a “sell” rating to a “hold” rating in a research note on Friday.

Merchants Bancorp Company Profile (Get Rating)

Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.

See Also

Dividend History for Merchants Bancorp (NASDAQ:MBIN)

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