Merchants Bancorp (NASDAQ:MBINM) Stock Short Interest Falls 51.0%

Merchants Bancorp (NASDAQ:MBINM) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totaling 7,298 shares, a drop of 51.0% from the August 31st total of 14,886 shares. Based on an average daily volume of 6,169 shares, the short-interest ratio is currently 1.2 days.

Merchants Bancorp Trading Down 0.5%

MBINM traded down $0.12 during trading on Thursday, hitting $25.55. 10,774 shares of the stock traded hands, compared to its average volume of 9,355. Merchants Bancorp has a 12-month low of $24.00 and a 12-month high of $25.96. The firm has a 50-day moving average of $25.55 and a 200 day moving average of $25.41.

Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.5156 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date is Tuesday, September 15th.

About Merchants Bancorp

Merchants Bancorp is a diversified financial services holding company headquartered in Carmel, Indiana. Through its banking and specialty finance subsidiaries, the company provides mortgage banking, multifamily and healthcare real estate financing, and other commercial banking services to businesses, real estate developers, healthcare operators and consumers.

Its mortgage banking operations originate, finance, sell and service residential mortgage loans, including government-sponsored and government-insured products.