Merchants Bancorp (NASDAQ:MBIN) Plans $0.11 Quarterly Dividend

Merchants Bancorp (NASDAQ:MBIN) declared a quarterly dividend on Thursday, May 21st. Shareholders of record on Monday, June 15th will be given a dividend of 0.11 per share on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, June 15th.

Merchants Bancorp has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Merchants Bancorp has a payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. 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 Performance

NASDAQ MBIN opened at $46.54 on Friday. The stock has a market capitalization of $2.14 billion, a PE ratio of 11.35 and a beta of 1.16. The business has a 50 day simple moving average of $45.36 and a two-hundred day simple moving average of $39.95. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.26 and a quick ratio of 0.89. Merchants Bancorp has a 1-year low of $28.75 and a 1-year high of $50.26.

Merchants Bancorp (NASDAQ:MBIN) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. The business had revenue of $175.25 million during the quarter, compared to analysts’ expectations of $174.30 million. Merchants Bancorp had a return on equity of 13.40% and a net margin of 16.64%. On average, research analysts predict that Merchants Bancorp will post 5.21 EPS for the current fiscal year.

Merchants Bancorp declared that its board has authorized a stock repurchase plan on Wednesday, January 28th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 6.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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.