Short Interest in Merchants Bancorp (NASDAQ:MBINM) Declines By 91.8%
by Jessica Moore · The Cerbat GemMerchants Bancorp (NASDAQ:MBINM – Get Free Report) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 4,441 shares, a decrease of 91.8% from the March 31st total of 54,056 shares. Based on an average daily volume of 10,279 shares, the days-to-cover ratio is currently 0.4 days.
Merchants Bancorp Stock Performance
Merchants Bancorp stock traded down $0.06 during midday trading on Friday, reaching $25.43. The stock had a trading volume of 19,988 shares, compared to its average volume of 12,636. Merchants Bancorp has a 52-week low of $24.00 and a 52-week high of $25.96. The company has a fifty day moving average of $25.24 and a 200 day moving average of $25.09.
Merchants Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were given a $0.5156 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date of this dividend was Friday, March 13th.
Institutional Trading of Merchants Bancorp
An institutional investor recently bought a new position in Merchants Bancorp stock. Archer Investment Corp acquired a new position in Merchants Bancorp (NASDAQ:MBINM – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,000 shares of the company’s stock, valued at approximately $102,000.
Merchants Bancorp Company Profile
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.