Short Interest in Merchants Bancorp (NASDAQ:MBINM) Drops By 74.0%

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

Hedge Funds Weigh In On 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:MBINMFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,000 shares of the company’s stock, valued at approximately $102,000.

Merchants Bancorp Trading Down 0.4%

MBINM stock traded down $0.11 during trading on Friday, reaching $25.43. 3,370 shares of the company’s stock were exchanged, compared to its average volume of 10,320. Merchants Bancorp has a 1-year low of $24.00 and a 1-year high of $25.96. The company’s fifty day moving average price is $25.45 and its 200-day moving average price is $25.39.

Merchants Bancorp Announces Dividend

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

About Merchants Bancorp

(Get Free Report)

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.

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