Short Interest in Merchants Bancorp (NASDAQ:MBINN) Rises By 276.5%

Merchants Bancorp (NASDAQ:MBINNGet Rating) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 6,400 shares, an increase of 276.5% from the April 30th total of 1,700 shares. Based on an average daily volume of 11,000 shares, the days-to-cover ratio is presently 0.6 days.

In related news, CEO Michael R. Dury acquired 4,500 shares of the stock in a transaction dated Friday, May 13th. The stock was purchased at an average cost of $23.26 per share, with a total value of $104,670.00. Following the completion of the purchase, the chief executive officer now directly owns 93,260 shares in the company, valued at approximately $2,169,227.60. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of MBINN stock traded up $0.42 during trading on Thursday, hitting $23.42. The company’s stock had a trading volume of 2,098 shares, compared to its average volume of 12,346. Merchants Bancorp has a 52 week low of $22.51 and a 52 week high of $29.37.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 6.41%. The ex-dividend date is Tuesday, June 14th.

About Merchants Bancorp (Get Rating)

Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.

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