Merchants Bancorp (NASDAQ:MBINM) Stock Price Down 0.6% – Here’s What Happened

Merchants Bancorp (NASDAQ:MBINM) dropped 0.6% during trading on Friday . The company traded as low as $25.50 and last traded at $25.5550. Approximately 8,463 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 11,296 shares. The stock had previously closed at $25.71.

Merchants Bancorp Price Performance

The stock’s 50-day moving average price is $25.23 and its 200 day moving average price is $25.17.

Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were given a $0.5156 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date was Friday, March 13th.

Institutional Investors Weigh In On Merchants Bancorp

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

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.