Merchants Bancorp (NASDAQ:MBINM) Short Interest Up 743.4% in March

Merchants Bancorp (NASDAQ:MBINM) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 19,103 shares, an increase of 743.4% from the February 26th total of 2,265 shares. Based on an average trading volume of 13,382 shares, the short-interest ratio is presently 1.4 days.

Hedge Funds Weigh In On Merchants Bancorp

A hedge fund recently bought a new stake in Merchants Bancorp stock. Archer Investment Corp acquired a new position in shares of Merchants Bancorp (NASDAQ:MBINM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,000 shares of the company’s stock, valued at approximately $102,000.

Merchants Bancorp Stock Down 0.0%

Merchants Bancorp stock traded down $0.01 during mid-day trading on Thursday, reaching $24.89. 5,421 shares of the company were exchanged, compared to its average volume of 10,195. The firm’s 50-day simple moving average is $25.44 and its two-hundred day simple moving average is $25.07. Merchants Bancorp has a twelve month low of $24.00 and a twelve month high of $25.96.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.5156 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $2.06 annualized dividend and a dividend yield of 8.3%.

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.