Merchants Bancorp (MBIN) To Go Ex-Dividend on September 13th

Merchants Bancorp (NASDAQ:MBIN) 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.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Monday, July 29th. The company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.08). Merchants Bancorp had a net margin of 23.14% and a return on equity of 26.78%. The firm had revenue of $359.62 million for the quarter, compared to analysts’ expectations of $160.70 million. During the same quarter in the previous year, the business earned $1.31 EPS. On average, analysts predict that Merchants Bancorp will post 6.22 EPS for the current fiscal year.

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.