Merchants Bancorp (NASDAQ:MBINM) Short Interest Down 46.5% in June

Merchants Bancorp (NASDAQ:MBINM) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 4,087 shares, a decline of 46.5% from the May 31st total of 7,642 shares. Based on an average daily volume of 8,670 shares, the days-to-cover ratio is currently 0.5 days.

Merchants Bancorp Price Performance

Merchants Bancorp stock opened at $25.11 on Tuesday. The firm has a 50 day simple moving average of $25.47 and a 200-day simple moving average of $25.38. Merchants Bancorp has a 1-year low of $24.00 and a 1-year high of $25.96.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.5156 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.06 dividend on an annualized basis and a yield of 8.2%.

Institutional Investors Weigh In On Merchants Bancorp

An institutional investor recently bought a new stake in Merchants Bancorp stock. Archer Investment Corp bought a new stake in Merchants Bancorp (NASDAQ:MBINM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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.