Merchants Bancorp (NASDAQ:MBINM) Sees Large Growth in Short Interest

Merchants Bancorp (NASDAQ:MBINMGet Free Report) was the recipient of a large growth in short interest during the month of 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 trading volume, of 15,546 shares, the short-interest ratio is presently 2.2 days.

Merchants Bancorp Stock Performance

Shares of MBINM stock traded up $0.03 during trading on Friday, hitting $25.45. The company’s stock had a trading volume of 2,957 shares, compared to its average volume of 10,684. The business has a fifty day moving average of $25.46 and a 200-day moving average of $25.39. Merchants Bancorp has a 52 week low of $24.00 and a 52 week high of $25.96.

Merchants Bancorp Announces Dividend

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

Institutional Investors Weigh In On Merchants Bancorp

An institutional investor recently bought a new position in Merchants Bancorp stock. Archer Investment Corp bought a new position in shares of Merchants Bancorp (NASDAQ:MBINMFree Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 4,000 shares of the company’s stock, valued at approximately $102,000.

About Merchants Bancorp

(Get Free Report)

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.

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