Merchants Bancorp (NASDAQ:MBINN) Sees Significant Growth in Short Interest

Merchants Bancorp (NASDAQ:MBINN) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 25,459 shares, an increase of 111.6% from the April 30th total of 12,030 shares. Based on an average daily trading volume, of 9,632 shares, the days-to-cover ratio is presently 2.6 days.

Merchants Bancorp Stock Performance

Merchants Bancorp stock opened at $20.42 on Monday. Merchants Bancorp has a 52-week low of $18.27 and a 52-week high of $21.60. The stock’s 50 day moving average price is $20.29 and its two-hundred day moving average price is $19.85.

Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Monday, June 15th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Merchants Bancorp stock. Beck Mack & Oliver LLC bought a new stake in shares of Merchants Bancorp (NASDAQ:MBINN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 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.