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

Merchants Bancorp (NASDAQ:MBIN) declared a quarterly dividend on Thursday, August 20th. Investors of record on Tuesday, September 15th will be paid a dividend of 0.11 per share on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 15th.

Merchants Bancorp has increased its dividend 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% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Merchants Bancorp to earn $5.99 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 7.3%.

Merchants Bancorp Stock Up 1.2%

Merchants Bancorp stock opened at $54.13 on Friday. Merchants Bancorp has a 12 month low of $30.37 and a 12 month high of $56.87. The stock has a fifty day simple moving average of $50.89 and a two-hundred day simple moving average of $47.26. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.32. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 10.87 and a beta of 1.14.

Merchants Bancorp (NASDAQ:MBIN) last posted its earnings results on Tuesday, July 28th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.26. The business had revenue of $182.22 million during the quarter, compared to the consensus estimate of $179.00 million. Merchants Bancorp had a net margin of 19.80% and a return on equity of 15.29%. Equities analysts predict that Merchants Bancorp will post 5.58 EPS for the current fiscal year.

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.