Merchants Bancorp (NASDAQ:MBINN) Short Interest Up 35.5% in March

Merchants Bancorp (NASDAQ:MBINN) saw a large increase in short interest in March. As of March 31st, there was short interest totaling 9,612 shares, an increase of 35.5% from the March 15th total of 7,095 shares. Based on an average daily volume of 8,101 shares, the short-interest ratio is presently 1.2 days.

Merchants Bancorp Stock Up 0.7%

NASDAQ MBINN traded up $0.14 during trading hours on Wednesday, reaching $20.64. The company’s stock had a trading volume of 9,244 shares, compared to its average volume of 12,099. The firm’s 50-day moving average price is $20.11 and its 200-day moving average price is $19.84. Merchants Bancorp has a 1 year low of $18.27 and a 1 year high of $21.60.

Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were issued a $0.375 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.50 dividend on an annualized basis and a yield of 7.3%.

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 Merchants Bancorp (NASDAQ:MBINN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 99,359 shares of the company’s stock, valued at approximately $1,825,000.

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.