Short Interest in Merchants Bancorp (NASDAQ:MBINN) Rises By 45.2%

Merchants Bancorp (NASDAQ:MBINN) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 13,709 shares, a growth of 45.2% from the February 12th total of 9,440 shares. Based on an average daily volume of 21,564 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 21,564 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

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

Merchants Bancorp Price Performance

Shares of Merchants Bancorp stock traded down $0.23 during trading on Friday, hitting $20.06. 5,439 shares of the stock were exchanged, compared to its average volume of 14,042. The firm’s 50-day moving average price is $20.00 and its 200 day moving average price is $19.98. Merchants Bancorp has a 12-month low of $18.27 and a 12-month high of $22.04.

Merchants Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Friday, March 13th.

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.