Merchants Bancorp (NASDAQ:MBINN) Sees Significant Increase in Short Interest

Merchants Bancorp (NASDAQ:MBINN) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 10,793 shares, a growth of 226.1% from the December 31st total of 3,310 shares. Based on an average trading volume of 10,845 shares, the days-to-cover ratio is currently 1.0 days. Based on an average trading volume of 10,845 shares, the days-to-cover ratio is currently 1.0 days.

Merchants Bancorp Trading Up 0.1%

Shares of NASDAQ:MBINN traded up $0.03 during midday trading on Wednesday, hitting $20.19. The company’s stock had a trading volume of 6,677 shares, compared to its average volume of 10,019. The stock’s 50 day simple moving average is $19.16 and its 200 day simple moving average is $19.95. Merchants Bancorp has a fifty-two week low of $18.27 and a fifty-two week high of $22.35.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend was Monday, December 15th.

About Merchants Bancorp

Merchants Bancorp (NASDAQ: MBINN) is a bank holding company headquartered in Buffalo, New York. Through its subsidiary, Merchants Bank, the company provides a comprehensive suite of commercial and consumer banking products across Western New York. Its branch network serves individuals, small businesses and institutional clients with personalized banking solutions.

The company’s core offerings include deposit products such as checking, savings and certificates of deposit, alongside a portfolio of lending products that encompasses commercial and industrial loans, commercial real estate financing, residential mortgages and consumer credit lines.