Short Interest in Merchants Bancorp (NASDAQ:MBINM) Rises By 753.0%

Merchants Bancorp (NASDAQ:MBINM) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 34,862 shares, a growth of 753.0% from the June 15th total of 4,087 shares. Based on an average daily volume of 15,546 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Trading of 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) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,000 shares of the company’s stock, valued at approximately $102,000.

Merchants Bancorp Stock Up 0.3%

Merchants Bancorp stock opened at $25.53 on Monday. The business has a 50 day moving average of $25.46 and a 200-day moving average of $25.39. Merchants Bancorp has a 1 year low of $24.00 and a 1 year high of $25.96.

Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a dividend of $0.5156 per share. This represents a $2.06 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date of this dividend was Monday, June 15th.

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.