Merchants Bancorp (NASDAQ:MBINM) Sees Significant Increase in Short Interest
by Danessa Lincoln · The Markets DailyMerchants Bancorp (NASDAQ:MBINM – Get Free Report) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 19,103 shares, a growth of 743.4% from the February 26th total of 2,265 shares. Based on an average trading volume of 13,382 shares, the short-interest ratio is currently 1.4 days. Based on an average trading volume of 13,382 shares, the short-interest ratio is currently 1.4 days.
Merchants Bancorp Stock Performance
MBINM stock opened at $24.84 on Wednesday. Merchants Bancorp has a 52-week low of $24.00 and a 52-week high of $25.96. The stock’s fifty day simple moving average is $25.45 and its 200-day simple moving average is $25.07.
Merchants Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $0.5156 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date of this dividend is Friday, March 13th.
Institutional Trading of Merchants Bancorp
An institutional investor recently bought a new position in Merchants Bancorp stock. Archer Investment Corp acquired a new position in shares of Merchants Bancorp (NASDAQ:MBINM – Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,000 shares of the company’s stock, valued at approximately $102,000.
Merchants Bancorp Company Profile
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.