Merchants Bancorp (NASDAQ:MBINM) Short Interest Up 753.0% in June

Merchants Bancorp (NASDAQ:MBINMGet Free Report) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 34,862 shares, a growth of 753.0% from the June 15th total of 4,087 shares. Based on an average daily trading volume, of 15,546 shares, the days-to-cover ratio is presently 2.2 days.

Merchants Bancorp Trading Up 0.1%

NASDAQ MBINM traded up $0.03 on Friday, reaching $25.45. The company had a trading volume of 2,957 shares, compared to its average volume of 10,684. The company’s fifty day moving average is $25.46 and its 200 day moving average is $25.39. Merchants Bancorp has a 52-week low of $24.00 and a 52-week high of $25.96.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were issued a $0.5156 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.06 annualized dividend and a dividend yield of 8.1%.

Institutional Inflows and Outflows

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

About Merchants Bancorp

(Get Free Report)

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.

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