Short Interest in Merchants Bancorp (NASDAQ:MBINM) Declines By 46.5%

Merchants Bancorp (NASDAQ:MBINM) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 4,087 shares, a drop of 46.5% from the May 31st total of 7,642 shares. Based on an average daily volume of 8,670 shares, the days-to-cover ratio is presently 0.5 days.

Merchants Bancorp Price Performance

MBINM stock traded down $0.07 during midday trading on Thursday, hitting $25.27. The stock had a trading volume of 494 shares, compared to its average volume of 10,967. The business has a 50-day moving average of $25.47 and a two-hundred day moving average of $25.38. Merchants Bancorp has a 52-week low of $24.00 and a 52-week high of $25.96.

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were given a $0.5156 dividend. This represents a $2.06 annualized dividend and a dividend yield of 8.2%. The ex-dividend date of this dividend was Monday, June 15th.

Institutional Trading of Merchants Bancorp

A hedge fund recently bought a new stake in Merchants Bancorp stock. Archer Investment Corp acquired a new position in Merchants Bancorp (NASDAQ:MBINM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,000 shares of the company’s stock, valued at approximately $102,000.

About Merchants Bancorp

Merchants Bancorp is a bank holding company whose principal subsidiary, Merchants Bank, provides a broad range of financial services to individuals, businesses and institutional clients. Headquartered in Harrisburg, Pennsylvania, the company focuses on delivering community-oriented banking solutions throughout central Pennsylvania. Its core offerings include deposit accounts, commercial and consumer lending, mortgage financing, and cash management services designed to meet the needs of both retail and corporate customers.

On the lending side, Merchants Bancorp extends credit through commercial real estate loans, construction financing, equipment loans, and lines of credit for small- and middle-market enterprises.