Merchants Bancorp (NASDAQ:MBINM) Short Interest Update

Merchants Bancorp (NASDAQ:MBINM) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 9,079 shares, a drop of 74.0% from the June 30th total of 34,862 shares. Based on an average trading volume of 3,338 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Trading of Merchants Bancorp

A hedge fund recently bought a new position in Merchants Bancorp stock. Archer Investment Corp bought a new stake in Merchants Bancorp (NASDAQ:MBINM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,000 shares of the company’s stock, valued at approximately $102,000.

Merchants Bancorp Stock Down 0.2%

MBINM stock traded down $0.06 during mid-day trading on Monday, reaching $25.35. 4,330 shares of the stock traded hands, compared to its average volume of 10,277. Merchants Bancorp has a 52 week low of $24.00 and a 52 week high of $25.96. The business has a 50-day moving average of $25.45 and a two-hundred day moving average of $25.39.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were issued a dividend of $0.5156 per share. The ex-dividend date was Monday, June 15th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 8.1%.

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.