Zacks Investment Research upgraded shares of Merchants Bancshares Inc. (NASDAQ:MBVT) from a sell rating to a hold rating in a report issued on Thursday morning.

According to Zacks, “Merchants Bancshares, Inc. is a bank holding company for Merchants Bank. “

Separately, FIG Partners cut shares of Merchants Bancshares from an outperform rating to a market-perform rating in a report on Monday, July 25th.

Shares of Merchants Bancshares (NASDAQ:MBVT) opened at 32.79 on Thursday. The firm has a 50 day moving average of $32.63 and a 200 day moving average of $30.88. Merchants Bancshares has a one year low of $27.00 and a one year high of $34.00. The stock has a market cap of $225.37 million, a P/E ratio of 15.56 and a beta of 0.85.

Merchants Bancshares (NASDAQ:MBVT) last issued its earnings results on Thursday, July 21st. The financial services provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06. Merchants Bancshares had a net margin of 20.25% and a return on equity of 10.82%. On average, equities research analysts predict that Merchants Bancshares will post $2.34 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Tdam USA Inc. purchased a new stake in Merchants Bancshares during the second quarter worth $713,000. Renaissance Technologies LLC boosted its stake in 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 period. Crawford Investment Counsel Inc. boosted its stake in Merchants Bancshares by 1.6% in the second quarter. Crawford Investment Counsel Inc. now owns 62,659 shares of the financial services provider’s stock worth $1,910,000 after buying an additional 1,000 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Merchants Bancshares by 1.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 243,158 shares of the financial services provider’s stock worth $7,411,000 after buying an additional 4,348 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in Merchants Bancshares by 18.6% in the second quarter. BlackRock Fund Advisors now owns 151,909 shares of the financial services provider’s stock worth $4,630,000 after buying an additional 23,791 shares during the period. 36.85% of the stock is currently owned by institutional investors and hedge funds.

About Merchants Bancshares

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.

5 Day Chart for NASDAQ:MBVT

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