Prentiss Smith & Co. Inc. decreased its position in shares of Merchants Bancshares Inc. (NASDAQ:MBVT) by 16.5% during the second quarter, Holdings Channel reports. The fund owned 32,092 shares of the financial services provider’s stock after selling 6,359 shares during the period. Prentiss Smith & Co. Inc.’s holdings in Merchants Bancshares were worth $978,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Renaissance Technologies LLC increased its stake in shares of Merchants Bancshares by 12.0% in the first quarter. Renaissance Technologies LLC now owns 55,800 shares of the financial services provider’s stock worth $1,659,000 after buying an additional 6,000 shares during the last quarter. Clean Yield Group increased its stake in shares of Merchants Bancshares by 2.8% in the second quarter. Clean Yield Group now owns 58,517 shares of the financial services provider’s stock worth $1,784,000 after buying an additional 1,588 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of Merchants Bancshares by 8.4% in the second quarter. Strs Ohio now owns 11,600 shares of the financial services provider’s stock worth $353,000 after buying an additional 900 shares during the last quarter. 36.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Merchants Bancshares Inc. (NASDAQ:MBVT) traded down 0.61% during trading on Tuesday, hitting $32.44. 2,803 shares of the stock traded hands. Merchants Bancshares Inc. has a 52-week low of $27.00 and a 52-week high of $34.00. The firm has a market cap of $222.96 million, a price-to-earnings ratio of 15.40 and a beta of 0.92. The stock has a 50 day moving average of $32.68 and a 200 day moving average of $31.04.
Merchants Bancshares (NASDAQ:MBVT) last released its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. Merchants Bancshares had a return on equity of 10.82% and a net margin of 20.25%. Analysts expect that Merchants Bancshares Inc. will post $2.35 EPS for the current year.
MBVT has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Merchants Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. FIG Partners cut shares of Merchants Bancshares from an “outperform” rating to a “market-perform” rating in a research note on Monday, July 25th.
Merchants Bancshares Company Profile
Merchants Bancshares, Inc is a bank holding company. The Company’s subsidiary, Merchants Bank (the Bank) is a commercial bank. The Bank offers a range of deposit, loan, cash management and trust services to meet the financial needs of individual consumers, businesses and municipalities. The Bank operates approximately 30 full-service banking offices and over 40 automated teller machines (ATMs) located across the state of Vermont, and a full-service banking office in Massachusetts.
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