Merchants Bancorp (NASDAQ:MBINN) Shares Up 0.1% – Here’s What Happened

Merchants Bancorp (NASDAQ:MBINN)’s stock price was up 0.1% on Monday . The stock traded as high as $20.30 and last traded at $20.28. Approximately 5,421 shares traded hands during trading, a decline of 49% from the average session volume of 10,622 shares. The stock had previously closed at $20.26.

Merchants Bancorp Trading Down 0.0%

The firm’s 50-day moving average is $20.47 and its 200 day moving average is $19.96.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Monday, June 15th.

Institutional Trading of Merchants Bancorp

A hedge fund recently bought a new position in Merchants Bancorp stock. Beck Mack & Oliver LLC purchased a new stake in Merchants Bancorp (NASDAQ:MBINN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 99,359 shares of the company’s stock, valued at approximately $1,825,000.

Merchants Bancorp Company Profile

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.