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

Merchants Bancorp (NASDAQ:MBIN) announced a quarterly dividend on Thursday, February 19th. Shareholders of record on Friday, March 13th will be paid a dividend of 0.11 per share on Wednesday, April 1st. This represents a c) annualized dividend and a yield of 1.1%. 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 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 $5.95 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 7.4%.

Merchants Bancorp Stock Down 0.0%

Merchants Bancorp stock opened at $41.89 on Wednesday. Merchants Bancorp has a 12 month low of $27.25 and a 12 month high of $48.50. The stock has a fifty day simple moving average of $40.11 and a two-hundred day simple moving average of $35.29. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 2.22. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 11.08 and a beta of 1.25.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.34. Merchants Bancorp had a return on equity of 13.17% and a net margin of 16.02%.The firm had revenue of $185.29 million for the quarter, compared to the consensus estimate of $170.80 million. Equities analysts predict that Merchants Bancorp will post 5.54 EPS for the current fiscal year.

Merchants Bancorp announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership 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.