Merchants Bancorp (NASDAQ:MBINM) Shares Down 0.6% – Should You Sell?

Merchants Bancorp (NASDAQ:MBINM)’s share price fell 0.6% during trading on Friday . The company traded as low as $25.50 and last traded at $25.5550. 8,463 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 11,296 shares. The stock had previously closed at $25.71.

Merchants Bancorp Price Performance

The business has a 50 day simple moving average of $25.23 and a 200 day simple moving average of $25.17.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were paid a $0.5156 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $2.06 dividend on an annualized basis and a yield of 8.1%.

Hedge Funds Weigh In On Merchants Bancorp

A hedge fund recently bought a new stake in Merchants Bancorp stock. Archer Investment Corp purchased a new stake in Merchants Bancorp (NASDAQ:MBINM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 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.