Merchants Bancorp (NASDAQ:MBINN) Shares Up 0.6% – Should You Buy?

Merchants Bancorp (NASDAQ:MBINN) shot up 0.6% on Monday. The stock traded as high as $18.90 and last traded at $18.78. 18,510 shares traded hands during trading, an increase of 87% from the average daily volume of 9,908 shares. The stock had previously closed at $18.67.

Merchants Bancorp Price Performance

The business has a 50-day simple moving average of $19.79 and a 200 day simple moving average of $20.08.

Merchants Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.3750 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.50 annualized dividend and a yield of 8.0%.

Merchants Bancorp Company Profile

Merchants Bancorp is a diversified financial holding company headquartered in Carmel, Indiana. Through its subsidiaries, the company provides banking, mortgage finance and multifamily housing finance services to businesses, real estate professionals, investors and consumers.

Its operating businesses include Merchants Bank of Indiana, which offers commercial and residential banking products, deposit accounts, commercial real estate lending and warehouse financing. The company also provides mortgage warehouse facilities to residential mortgage originators, enabling them to fund loans before they are sold into the secondary market.

Merchants Bancorp is also active in multifamily and healthcare finance, originating and servicing loans for apartment communities, affordable housing developments, senior housing and related healthcare properties.