Merchants Bancorp – FXDFR PRF PERPETUAL USD 25 – Ser B Dp sh 1, on February 14, 2024, declared a regular quarterly dividend of $0.38 per share ($1.50 annualized). This reflects no change from the previous dividend payment of $0.38 per share. In order to be eligible for the dividend, shares must be purchased before the ex-dividend date of March 14, 2024. Shareholders as of the record date of March 15, 2024, will receive the payment on April 1, 2024.
A Slice of the Pie
At the current share price of $24.48, the stock’s dividend yield is an appealing 6.13%. This dividend yield is a substantial return for investors, especially in the current market climate. A dividend yield this strong is a testament to the company’s stability and financial health, something that investors will likely find very agreeable.
Fund Sentiment and Analyst Projections
The fund sentiment for Merchants Bancorp has remained mostly unchanged, with a consistent number of funds or institutions reporting positions in the company. Despite this, there has been a slight decrease in the average portfolio weight of all funds dedicated to MBINO, totaling 0.16%. Additionally, there has been a 17.49% decrease in the total shares owned by institutions over the last three months.
Analyst price forecast data suggests an optimistic 14.52% upside for the stock. As of January 22, 2024, the average one-year price target for Merchants Bancorp – FXDFR PRF PERPETUAL USD 25 – Ser B Dp sh 1 is $28.03, with the low and high ends of the forecast ranging from $26.84 to $29.80. This positive projection indicates potential growth for the company, making it an enticing option for investments.
PFF – iShares Preferred and Income Securities ETF have significantly increased their holdings, currently holding 453K shares, marking an 11.09% rise from their prior filing. Flaherty & Crumrine Preferred Securities Income Fund and Flaherty & Crumrine Dynamic Preferred & Income Fund are holding steady with their share holdings. VRP – Invesco Variable Rate Preferred ETF has seen a modest decrease in its portfolio allocation in MBINO by 2.98% over the last quarter. On the other hand, PFFA – Virtus InfraCap U.S. Preferred Stock ETF has ramped up their portfolio allocation in MBINO by 36.00% over the last quarter, bringing their total share holdings to 30K.
These strategic moves by institutional investors may indicate their confidence in the future prospects of the company, and individual investors may consider these actions as they evaluate their own investment strategies.
Looking Forward
Merchants Bancorp’s projected annual revenue of 489MM and projected annual non-GAAP EPS of 4.68 further underscore the company’s strong financial standing and potential for growth. As the company continues to unfold its plans, investors are likely to keep a close eye on these promising numbers and the overall market sentiment surrounding the stock.
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The company’s proactive measures and the positive sentiment from both analysts and shareholders hint at a bright future. For investors, this dividend declaration and the company’s strategic position in the market may present a compelling opportunity to capitalize on potential growth.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
