Merchants Bancorp (NASDAQ:MBINN) Sees Large Increase in Short Interest

Merchants Bancorp (NASDAQ:MBINN) was the target of a large increase in short interest in May. As of May 15th, there was short interest totaling 25,459 shares, an increase of 111.6% from the April 30th total of 12,030 shares. Based on an average trading volume of 9,632 shares, the short-interest ratio is presently 2.6 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Merchants Bancorp stock. Beck Mack & Oliver LLC bought a new stake in shares of Merchants Bancorp (NASDAQ:MBINN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 99,359 shares of the company’s stock, valued at approximately $1,825,000.

Merchants Bancorp Price Performance

NASDAQ MBINN traded up $0.07 during trading hours on Tuesday, hitting $20.64. The company had a trading volume of 10,450 shares, compared to its average volume of 10,801. Merchants Bancorp has a fifty-two week low of $18.27 and a fifty-two week high of $21.60. The business has a fifty day simple moving average of $20.30 and a 200-day simple moving average of $19.85.

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.50 annualized dividend and a yield of 7.3%.

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.