Merchants Bancorp (NASDAQ:MBIN) to Issue Dividend Increase – $0.11 Per Share

Merchants Bancorp (NASDAQ:MBIN) declared a quarterly dividend on Thursday, February 19th. Shareholders of record on Friday, March 13th will be given a dividend of 0.11 per share on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, March 13th. This is a 10.0% increase from Merchants Bancorp’s previous quarterly dividend of $0.10.

Merchants Bancorp has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 8 years. Merchants Bancorp has a payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Merchants Bancorp to earn $5.95 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 6.7%.

Merchants Bancorp Stock Up 0.7%

Shares of NASDAQ MBIN traded up $0.30 during midday trading on Friday, reaching $45.35. The company’s stock had a trading volume of 76,901 shares, compared to its average volume of 399,611. The stock has a 50 day simple moving average of $38.07 and a 200-day simple moving average of $34.24. The company has a current ratio of 1.10, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 11.98 and a beta of 1.27. Merchants Bancorp has a fifty-two week low of $27.25 and a fifty-two week high of $48.50.

Merchants Bancorp (NASDAQ:MBIN) last released its earnings results on Wednesday, January 28th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.34. Merchants Bancorp had a net margin of 16.02% and a return on equity of 13.35%. The business had revenue of $168.05 million during the quarter, compared to the consensus estimate of $170.80 million. Equities research analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Martin A. Schroeter sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $46.06, for a total transaction of $253,330.00. Following the completion of the sale, the insider owned 10,881 shares in the company, valued at $501,178.86. The trade was a 33.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 34.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Merchants Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Merchants Bancorp in the 4th quarter valued at $34,000. State of Alaska Department of Revenue acquired a new stake in shares of Merchants Bancorp in the 3rd quarter valued at approximately $57,000. Tower Research Capital LLC TRC grew its stake in shares of Merchants Bancorp by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,201 shares of the company’s stock worth $73,000 after buying an additional 1,153 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Merchants Bancorp by 44.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,649 shares of the company’s stock worth $88,000 after acquiring an additional 817 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Merchants Bancorp by 121.6% in the second quarter. CWM LLC now owns 3,010 shares of the company’s stock valued at $100,000 after buying an additional 1,652 shares during the period. Institutional investors and hedge funds 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.