Merchants Bancorp (NASDAQ:MBINN) Sees Significant Increase in Short Interest
by Kim Johansen · The Markets DailyMerchants Bancorp (NASDAQ:MBINN – Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 9,612 shares, an increase of 35.5% from the March 15th total of 7,095 shares. Based on an average daily volume of 8,101 shares, the short-interest ratio is presently 1.2 days.
Merchants Bancorp Stock Down 1.8%
Shares of NASDAQ MBINN traded down $0.37 during mid-day trading on Thursday, hitting $20.27. The company’s stock had a trading volume of 3,540 shares, compared to its average volume of 11,980. Merchants Bancorp has a one year low of $18.27 and a one year high of $21.60. The company’s fifty day simple moving average is $20.11 and its 200-day simple moving average is $19.85.
Merchants Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.50 dividend on an annualized basis and a yield of 7.4%.
Institutional Trading of Merchants Bancorp
A hedge fund recently bought a new stake in Merchants Bancorp stock. Beck Mack & Oliver LLC bought a new stake in shares of Merchants Bancorp (NASDAQ:MBINN – Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 99,359 shares of the company’s stock, valued at approximately $1,825,000.
About Merchants Bancorp
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.