Merchants Bancorp (NASDAQ:MBINN) Stock Price Down 1.5% – Here’s Why

Shares of Merchants Bancorp (NASDAQ:MBINN) fell 1.5% during mid-day trading on Thursday. The company traded as low as $18.29 and last traded at $18.52. Approximately 10,549 shares traded hands during trading, an increase of 7% from the average daily volume of 9,858 shares. The stock had previously closed at $18.80.

Merchants Bancorp Stock Down 1.5%

The stock has a fifty day moving average of $19.19 and a 200 day moving average of $19.94.

Merchants Bancorp Announces Dividend

The business 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. This represents a $1.50 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend was Tuesday, September 15th.

Merchants Bancorp Company Profile

Merchants Bancorp is a bank holding company headquartered in Carmel, Indiana. Through Merchants Bank of Indiana and its affiliated businesses, it provides commercial and consumer banking services alongside specialized lending and financial services.

The company’s activities include multifamily and healthcare real estate financing, mortgage warehouse lending, and other commercial lending. Its financial services businesses also support borrowers and property owners with mortgage banking and related financing solutions.

Merchants Bancorp serves customers through banking operations centered in Indiana and provides specialized financing to clients in markets across the United States.