Short Interest in Merchants Bancorp (NASDAQ:MBINM) Grows By 183.0%

Merchants Bancorp (NASDAQ:MBINM) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 54,056 shares, an increase of 183.0% from the March 15th total of 19,103 shares. Based on an average daily trading volume, of 25,623 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Merchants Bancorp stock. Archer Investment Corp acquired a new position in shares of Merchants Bancorp (NASDAQ:MBINM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,000 shares of the company’s stock, valued at approximately $102,000.

Merchants Bancorp Stock Down 0.0%

Shares of NASDAQ:MBINM traded down $0.01 during trading on Friday, hitting $25.11. 8,703 shares of the company’s stock were exchanged, compared to its average volume of 12,963. Merchants Bancorp has a 1-year low of $24.00 and a 1-year high of $25.96. The firm has a 50-day moving average price of $25.30 and a two-hundred day moving average price of $25.06.

Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were paid a dividend of $0.5156 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $2.06 annualized dividend and a yield of 8.2%.

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.