Merchants Bancorp (NASDAQ:MBIN – Get Free Report) announced a quarterly dividend on Thursday, August 15th, Zacks reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.09 per share on Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Friday, September 13th.
Merchants Bancorp has increased its dividend by an average of 14.5% annually over the last three years. Merchants Bancorp has a dividend payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Merchants Bancorp to earn $5.92 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 6.1%.
Merchants Bancorp Price Performance
NASDAQ MBIN traded up $2.14 during trading hours on Friday, reaching $43.66. 286,527 shares of the stock traded hands, compared to its average volume of 182,980. The stock has a 50 day simple moving average of $42.80 and a two-hundred day simple moving average of $42.00. Merchants Bancorp has a 1 year low of $25.78 and a 1 year high of $53.27. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.06 and a quick ratio of 0.81. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 6.85 and a beta of 1.12.
Insider Activity
In related news, CEO Michael R. Dury acquired 5,200 shares of Merchants Bancorp stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $38.71 per share, with a total value of $201,292.00. Following the completion of the purchase, the chief executive officer now owns 93,793 shares of the company’s stock, valued at $3,630,727.03. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Merchants Bancorp news, CEO Michael R. Dury bought 5,200 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $38.71 per share, with a total value of $201,292.00. Following the completion of the purchase, the chief executive officer now directly owns 93,793 shares of the company’s stock, valued at $3,630,727.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael R. Dury bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average cost of $44.82 per share, for a total transaction of $268,920.00. Following the completion of the purchase, the chief executive officer now directly owns 88,593 shares of the company’s stock, valued at $3,970,738.26. The disclosure for this purchase can be found here. Insiders own 39.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on MBIN. Piper Sandler restated an “overweight” rating and set a $56.00 price target (down previously from $58.50) on shares of Merchants Bancorp in a research report on Friday, May 17th. Raymond James cut Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $55.00 to $58.00 in a research note on Tuesday, July 30th.
About Merchants Bancorp
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.
Featured Stories
- Five stocks we like better than Merchants Bancorp
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- Bumble’s Valuation Hits an All-Time Low, Can Its Fortunes Change?
- How Technical Indicators Can Help You Find Oversold Stocks
- MarketBeat Week in Review – 8/12 – 8/16
- What Are Dividend Contenders? Investing in Dividend Contenders
- JD.com Earnings Surprise: China’s Outlook Better Than Expected
Receive News & Ratings for Merchants Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merchants Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.