Meridian Co. (NASDAQ:MRBK - Get Free Report) CEO Christopher J. Annas bought 1,500 shares of Meridian stock in a transaction on Thursday, May 2nd. The shares were acquired at an average price of $8.99 per share, for a total transaction of $13,485.00. Following the completion of the acquisition, the chief executive officer now owns 357,878 shares in the company, valued at $3,217,323.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Meridian Stock Down 1.6 %
MRBK stock opened at $8.75 on Friday. The company's 50 day moving average price is $9.40 and its 200 day moving average price is $11.08. The firm has a market capitalization of $97.88 million, a price-to-earnings ratio of 8.33 and a beta of 0.70. Meridian Co. has a fifty-two week low of $7.80 and a fifty-two week high of $14.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.97 and a current ratio of 0.98.
Meridian (NASDAQ:MRBK - Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. Meridian had a net margin of 6.75% and a return on equity of 7.64%. The company had revenue of $45.20 million for the quarter, compared to the consensus estimate of $23.68 million. On average, equities research analysts anticipate that Meridian Co. will post 1.35 EPS for the current fiscal year.
Meridian Dividend Announcement
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The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend is Friday, May 10th. Meridian's dividend payout ratio is presently 47.62%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Meridian Wealth Partners LLC raised its position in shares of Meridian by 11.8% during the 3rd quarter. Meridian Wealth Partners LLC now owns 191,369 shares of the company's stock worth $1,874,000 after acquiring an additional 20,138 shares in the last quarter. Borer Denton & Associates Inc. purchased a new position in Meridian in the fourth quarter valued at approximately $476,000. Banc Funds Co. LLC raised its holdings in Meridian by 7.4% during the fourth quarter. Banc Funds Co. LLC now owns 782,678 shares of the company's stock worth $10,879,000 after purchasing an additional 53,990 shares in the last quarter. Strid Group LLC purchased a new stake in shares of Meridian during the 1st quarter worth approximately $431,000. Finally, LSV Asset Management boosted its holdings in shares of Meridian by 3.5% in the 4th quarter. LSV Asset Management now owns 92,822 shares of the company's stock valued at $1,290,000 after buying an additional 3,114 shares in the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Piper Sandler lowered Meridian from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $14.00 to $13.00 in a research report on Monday, January 29th. TheStreet cut Meridian from a "b-" rating to a "c" rating in a research note on Friday, January 26th.
Read Our Latest Analysis on MRBK
About Meridian
(
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Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Florida, and Maryland. The company offers various deposit products, such as demand non-interest bearing, demand interest bearing, savings accounts, money market accounts, and time deposits.
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