Merchants Bancorp (NASDAQ:MBINN) Sees Significant Decrease in Short Interest

Merchants Bancorp (NASDAQ:MBINN) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 15,328 shares, a drop of 32.1% from the June 30th total of 22,567 shares. Based on an average daily volume of 8,473 shares, the short-interest ratio is presently 1.8 days.

Hedge Funds Weigh In On Merchants Bancorp

An institutional investor recently bought a new position in Merchants Bancorp stock. Beck Mack & Oliver LLC purchased a new stake in shares of Merchants Bancorp (NASDAQ:MBINN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 99,359 shares of the company’s stock, valued at approximately $1,825,000.

Merchants Bancorp Stock Down 0.6%

Merchants Bancorp stock opened at $20.07 on Friday. Merchants Bancorp has a fifty-two week low of $18.27 and a fifty-two week high of $21.60. The firm’s fifty day moving average price is $20.20 and its 200-day moving average price is $20.19.

Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 7.5%. The ex-dividend date was Monday, June 15th.

About Merchants Bancorp

Merchants Bancorp (NASDAQ: MBINN) is a bank holding company headquartered in Buffalo, New York. Through its subsidiary, Merchants Bank, the company provides a comprehensive suite of commercial and consumer banking products across Western New York. Its branch network serves individuals, small businesses and institutional clients with personalized banking solutions.

The company’s core offerings include deposit products such as checking, savings and certificates of deposit, alongside a portfolio of lending products that encompasses commercial and industrial loans, commercial real estate financing, residential mortgages and consumer credit lines.