Today: Merchants Bancshares Inc. (MBVT) Stake Held by Amica Mutual Insurance Co.

Today: Merchants Bancshares Inc. (MBVT) Stake Held by Amica Mutual Insurance Co.

Amica Mutual Insurance Co. held its position in shares of Merchants Bancshares Inc. (NASDAQ:MBVT) during the third quarter, Holdings Channel reports. The fund owned 116,166 shares of the financial services provider’s stock at the end of the third quarter. Amica Mutual Insurance Co. owned approximately 1.69% of Merchants Bancshares worth $3,763,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Castine Capital Management LLC increased its position in Merchants Bancshares by 89.2% in the second quarter. Castine Capital Management LLC now owns 283,362 shares of the financial services provider’s stock worth $8,637,000 after buying an additional 133,558 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position 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 in the last quarter. Dimensional Fund Advisors LP increased its position in Merchants Bancshares by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 232,839 shares of the financial services provider’s stock worth $7,097,000 after buying an additional 2,296 shares in the last quarter. BlackRock Fund Advisors increased its position 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 in the last quarter. Finally, Vanguard Group Inc. increased its position in Merchants Bancshares by 3.0% in the second quarter. Vanguard Group Inc. now owns 151,349 shares of the financial services provider’s stock worth $4,613,000 after buying an additional 4,414 shares in the last quarter. 39.24% of the stock is owned by hedge funds and other institutional investors.

Shares of Merchants Bancshares Inc. (NASDAQ:MBVT) traded down 0.40% during mid-day trading on Monday, hitting $49.70. The stock had a trading volume of 1,119 shares. Merchants Bancshares Inc. has a one year low of $27.00 and a one year high of $49.95. The company has a 50-day moving average of $41.30 and a 200 day moving average of $33.98. The firm has a market cap of $342.18 million, a price-to-earnings ratio of 23.92 and a beta of 0.79.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Thursday, November 10th were issued a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 8th. This represents a $1.12 annualized dividend and a yield of 2.24%. Merchants Bancshares’s payout ratio is presently 54.37%.

A number of research analysts have recently commented on the stock. Sandler O’Neill downgraded shares of Merchants Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Zacks Investment Research upgraded Merchants Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd.

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.

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