Short Interest in Merchants Bancorp (NASDAQ:MBINM) Declines By 83.0%

Merchants Bancorp (NASDAQ:MBINM) was the target of a large decrease in short interest in February. As of February 13th, there was short interest totaling 2,628 shares, a decrease of 83.0% from the January 29th total of 15,452 shares. Based on an average daily volume of 10,496 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 10,496 shares, the days-to-cover ratio is presently 0.3 days.

Merchants Bancorp Trading Down 0.2%

Shares of Merchants Bancorp stock traded down $0.05 during trading on Friday, hitting $25.45. The stock had a trading volume of 12,463 shares, compared to its average volume of 9,214. Merchants Bancorp has a 12 month low of $24.00 and a 12 month high of $26.13. The business’s 50-day moving average is $25.49 and its 200 day moving average is $25.06.

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.5156 per share. The ex-dividend date is Friday, March 13th. This represents a $2.06 annualized dividend and a yield of 8.1%.

Institutional Trading of Merchants Bancorp

A hedge fund recently bought a new stake in Merchants Bancorp stock. Archer Investment Corp purchased a new position in Merchants Bancorp (NASDAQ:MBINM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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.