Merchants Bancorp (NASDAQ:MBINN) Short Interest Update

Merchants Bancorp (NASDAQ:MBINN) was the target of a large decline in short interest in March. As of March 13th, there was short interest totaling 7,095 shares, a decline of 48.2% from the February 26th total of 13,709 shares. Based on an average daily volume of 7,485 shares, the days-to-cover ratio is currently 0.9 days.

Hedge Funds Weigh In On Merchants Bancorp

A hedge fund recently bought a new stake in Merchants Bancorp stock. Beck Mack & Oliver LLC acquired a new stake in Merchants Bancorp (NASDAQ:MBINN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 99,359 shares of the company’s stock, valued at approximately $1,825,000.

Merchants Bancorp Stock Performance

Shares of NASDAQ:MBINN traded up $0.07 on Friday, reaching $19.86. 2,852 shares of the company’s stock were exchanged, compared to its average volume of 12,636. The company has a fifty day moving average of $20.12 and a 200-day moving average of $19.96. Merchants Bancorp has a twelve month low of $18.27 and a twelve month high of $21.60.

Merchants Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 7.6%. The ex-dividend date is Friday, March 13th.

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.