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

Merchants Bancorp (NASDAQ:MBINNGet Free Report) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totaling 15,328 shares, a decline of 32.1% from the June 30th total of 22,567 shares. Based on an average daily volume of 8,473 shares, the short-interest ratio is presently 1.8 days.

Merchants Bancorp Trading Down 1.4%

MBINN stock opened at $19.91 on Friday. Merchants Bancorp has a fifty-two week low of $18.27 and a fifty-two week high of $21.60. The business’s 50 day moving average price is $20.21 and its two-hundred day moving average price is $20.19.

Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a $0.375 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.50 dividend on an annualized basis and a yield of 7.5%.

Institutional Trading of Merchants Bancorp

An institutional investor recently bought a new position in Merchants Bancorp stock. Beck Mack & Oliver LLC purchased a new stake in shares of Merchants Bancorp (NASDAQ:MBINNFree Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 99,359 shares of the company’s stock, valued at approximately $1,825,000.

About Merchants Bancorp

(Get Free Report)

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.

Further Reading

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