Merchants Bancorp (NASDAQ:MBINM) Shares Down 0.6% – Should You Sell?
by Teresa Graham · The Cerbat GemMerchants Bancorp (NASDAQ:MBINM – Get Free Report)’s share price dropped 0.6% during mid-day trading on Friday . The stock traded as low as $25.50 and last traded at $25.5550. Approximately 8,463 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 11,296 shares. The stock had previously closed at $25.71.
Merchants Bancorp Stock Down 0.6%
The firm has a fifty day moving average of $25.23 and a 200-day moving average of $25.17.
Merchants Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were paid a $0.5156 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $2.06 annualized dividend and a yield of 8.1%.
Hedge Funds Weigh In On Merchants Bancorp
An institutional investor recently bought a new position in Merchants Bancorp stock. Archer Investment Corp purchased a new stake in Merchants Bancorp (NASDAQ:MBINM – Free Report) during the fourth quarter, according to its most recent filing with the SEC. 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.