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

by · The Cerbat Gem

Merchants Bancorp (NASDAQ:MBINN – Get Free Report) saw a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 9,440 shares, a decrease of 23.9% from the January 29th total of 12,397 shares. Based on an average daily volume of 20,813 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 20,813 shares, the short-interest ratio is presently 0.5 days.

Merchants Bancorp Price Performance

Shares of NASDAQ MBINN traded up $0.16 during midday trading on Wednesday, hitting $20.76. 3,236 shares of the company’s stock were exchanged, compared to its average volume of 15,094. Merchants Bancorp has a twelve month low of $18.27 and a twelve month high of $22.30. The firm’s fifty day simple moving average is $19.75 and its 200-day simple moving average is $19.97.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a $0.375 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.50 annualized dividend and a yield of 7.2%.

Institutional Investors Weigh In On Merchants Bancorp

A hedge fund recently bought a new stake in Merchants Bancorp stock. Beck Mack & Oliver LLC bought a new position in shares of Merchants Bancorp (NASDAQ:MBINN – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 99,359 shares of the company’s stock, valued at approximately $1,825,000.

Merchants Bancorp Company Profile

(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.

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