Merchants Bancorp (NASDAQ:MBINM) Shares Down 0.1% – Here’s What Happened

Merchants Bancorp (NASDAQ:MBINM) shares traded down 0.1% on Friday . The company traded as low as $25.55 and last traded at $25.65. 2,541 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 10,664 shares. The stock had previously closed at $25.68.

Merchants Bancorp Price Performance

The business’s 50 day moving average is $25.45 and its two-hundred day moving average is $25.34.

Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a $0.5156 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Merchants Bancorp stock. Archer Investment Corp purchased a new stake in shares of Merchants Bancorp (NASDAQ:MBINM) during the fourth quarter, according to 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.