Merchants Bancorp (NASDAQ:MBINM) Shares Up 0.7%

Merchants Bancorp (NASDAQ:MBINM)’s stock price shot up 0.7% during mid-day trading on Wednesday . The company traded as high as $26.49 and last traded at $26.19. 17,298 shares were traded during mid-day trading, an increase of 46% from the average session volume of 11,888 shares. The stock had previously closed at $26.00.

Merchants Bancorp Stock Up 0.7 %

The stock’s fifty day simple moving average is $25.48 and its 200-day simple moving average is $24.92.

Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.5156 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.06 annualized dividend and a dividend yield of 7.87%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Merchants Bancorp stock. Archer Investment Corp acquired a new position in shares of Merchants Bancorp (NASDAQ:MBINM) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,000 shares of the company’s stock, valued at approximately $92,000.

Merchants Bancorp Company Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.