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

Merchants Bancorp (NASDAQ:MBIN) announced a quarterly dividend on Thursday, May 21st. Stockholders 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 0.9%. The ex-dividend date of this dividend 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 annually for the last 8 consecutive years. Merchants Bancorp has a dividend payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of NASDAQ MBIN opened at $46.54 on Friday. The firm has a 50-day simple moving average of $45.36 and a 200-day simple moving average of $39.95. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.35 and a beta of 1.16. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 2.68. Merchants Bancorp has a 52 week low of $28.75 and a 52 week high of $50.26.

Merchants Bancorp (NASDAQ:MBIN) last issued its earnings results on Tuesday, April 28th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 16.64% and a return on equity of 13.40%. On average, equities analysts predict that Merchants Bancorp will post 5.21 earnings per share for the current fiscal year.

Merchants Bancorp announced that its Board of Directors has approved a share buyback plan on Wednesday, January 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are 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.