Merchants Bancorp (MBIN) to Issue Quarterly Dividend of $0.11 on July 1st

Merchants Bancorp (NASDAQ:MBIN) announced a quarterly dividend on Thursday, May 21st. Shareholders of record on Monday, June 15th will be paid a dividend of 0.11 per share on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, June 15th.

Merchants Bancorp has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 8 years. Merchants Bancorp has a dividend payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Merchants Bancorp to earn $5.70 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 7.7%.

Merchants Bancorp Stock Down 1.2%

Shares of NASDAQ:MBIN opened at $45.99 on Friday. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 11.22 and a beta of 1.16. Merchants Bancorp has a 1-year low of $28.75 and a 1-year high of $50.26. The company’s fifty day moving average is $45.43 and its two-hundred day moving average is $40.00. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.89 and a current ratio of 1.26.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Tuesday, April 28th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $175.25 million for the quarter, compared to analysts’ expectations of $174.30 million. Merchants Bancorp had a net margin of 16.64% and a return on equity of 13.40%. Equities analysts anticipate that Merchants Bancorp will post 5.21 EPS for the current year.

Hedge Funds Weigh In On Merchants Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of MBIN. Millennium Management LLC grew its position in Merchants Bancorp by 135.6% in the 3rd quarter. Millennium Management LLC now owns 365,075 shares of the company’s stock valued at $11,609,000 after buying an additional 210,151 shares in the last quarter. Two Sigma Investments LP grew its position in Merchants Bancorp by 1,509.5% in the 3rd quarter. Two Sigma Investments LP now owns 175,754 shares of the company’s stock valued at $5,589,000 after buying an additional 164,834 shares in the last quarter. Principal Financial Group Inc. bought a new position in Merchants Bancorp in the 1st quarter valued at about $6,120,000. First Trust Advisors LP grew its position in Merchants Bancorp by 458.7% in the 4th quarter. First Trust Advisors LP now owns 141,145 shares of the company’s stock valued at $4,807,000 after buying an additional 115,881 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Merchants Bancorp by 6.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,758,985 shares of the company’s stock valued at $75,476,000 after buying an additional 102,087 shares in the last quarter. Institutional investors own 24.57% of the company’s stock.

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.