Merchants Bancorp (NASDAQ:MBINN) Trading Up 0.4% – Time to Buy?

Shares of Merchants Bancorp (NASDAQ:MBINN) traded up 0.4% on Wednesday . The company traded as high as $20.30 and last traded at $20.15. Approximately 22,929 shares were traded during mid-day trading, an increase of 60% from the average daily volume of 14,332 shares. The stock had previously closed at $20.06.

Merchants Bancorp Price Performance

The firm’s 50-day moving average price is $19.44 and its 200 day moving average price is $19.96.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Merchants Bancorp stock. Beck Mack & Oliver LLC purchased a new stake in Merchants Bancorp (NASDAQ:MBINN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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.