Merchants Bancorp (NASDAQ:MBINN) Short Interest Up 35.5% in March

Merchants Bancorp (NASDAQ:MBINN) was the recipient of a large increase in short interest in 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 trading volume, of 8,101 shares, the short-interest ratio is currently 1.2 days.

Merchants Bancorp Stock Up 0.7%

Shares of MBINN stock traded up $0.14 during trading hours on Wednesday, reaching $20.64. 9,244 shares of the company traded hands, compared to its average volume of 12,099. Merchants Bancorp has a 12-month low of $18.27 and a 12-month high of $21.60. The firm has a 50-day moving average price of $20.11 and a 200 day moving average price of $19.84.

Merchants Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend was Friday, March 13th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Merchants Bancorp stock. Beck Mack & Oliver LLC acquired a new stake in shares of Merchants Bancorp (NASDAQ:MBINN) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 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.