MERCHANTS BANCORP - MBIN 8 1/4 PERP

MBINM is a Nasdaq-listed depositary share representing a 1/40th interest in a share of 7.75% fixed-rate reset non-cumulative preferred stock of Merchants Bancorp. It trades under the ticker MBINM and pays a fixed dividend until a reset date, after which the rate adjusts based on a benchmark. As a preferred security, it ranks ahead of common equity but behind debt in the capital structure.

Recent performance for MBINM is not fixed and can change daily based on interest rates, credit conditions, and trading volume. For the latest price change, 52-week range, and trend information, please refer to the current MBINM quote and performance data displayed on this page.

Because MBINM is a preferred stock, standard equity valuation metrics like P/E are not the primary tools. Investors often look at the current yield relative to comparable preferreds, the spread to U.S. Treasuries, the reset date and reset spread, and the credit quality of the issuer. The relationship between price and the $25 liquidation preference also matters.

MBINM may be eligible for extended-hours trading through certain brokers, but liquidity outside the regular Nasdaq session is often thinner. Trading before or after regular hours can involve wider spreads and greater price volatility. Check with your brokerage for specific availability and any applicable extended-hours rules.

As a fixed-rate preferred, MBINM is sensitive to interest rate movements. When rates rise, the price of fixed-income-like securities often falls as newer issues offer higher yields; when rates decline, the opposite can occur. The scheduled reset feature also means future rate expectations can influence how MBINM trades well before the reset date.

Key risks include interest rate risk, credit risk tied to Merchants Bancorp's financial strength, and the non-cumulative nature of the preferred dividends, which can be skipped without accruing. Liquidity risk may also apply, as trading volume can vary. Additionally, preferred stockholders rank below debt holders in a liquidation.