Merchants Bancorp (NASDAQ:MBINM) Sees Significant Increase in Short Interest

Merchants Bancorp (NASDAQ:MBINM) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 17,216 shares, an increase of 214.4% from the December 15th total of 5,476 shares. Based on an average daily trading volume, of 34,511 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily trading volume, of 34,511 shares, the days-to-cover ratio is currently 0.5 days.

Merchants Bancorp Stock Up 0.6%

Shares of MBINM stock traded up $0.16 during trading hours on Thursday, reaching $25.49. 5,654 shares of the company traded hands, compared to its average volume of 6,439. The firm has a 50-day moving average price of $24.97 and a 200 day moving average price of $24.96. Merchants Bancorp has a 12-month low of $24.00 and a 12-month high of $26.50.

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 15th were issued a dividend of $0.5156 per share. This represents a $2.06 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend was Monday, December 15th.

About Merchants Bancorp

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.