Merchants Bancorp (NASDAQ:MBINN) Shares Up 0.1% – Still a Buy?

Shares of Merchants Bancorp (NASDAQ:MBINN) shot up 0.1% during mid-day trading on Monday . The stock traded as high as $20.30 and last traded at $20.28. 5,421 shares were traded during trading, a decline of 49% from the average daily volume of 10,622 shares. The stock had previously closed at $20.26.

Merchants Bancorp Stock Up 0.1%

The stock has a 50 day moving average price of $20.48 and a 200 day moving average price of $19.95.

Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Investors Weigh In On Merchants Bancorp

A hedge fund recently bought a new stake in Merchants Bancorp stock. Beck Mack & Oliver LLC acquired a new stake in shares of Merchants Bancorp (NASDAQ:MBINN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 99,359 shares of the company’s stock, valued at approximately $1,825,000.

Merchants Bancorp Company Profile

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.