Banc Funds Co. LLC increased its position in shares of Meridian Co. (NASDAQ:MRBK - Free Report) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 829,153 shares of the company's stock after acquiring an additional 37,450 shares during the quarter. Banc Funds Co. LLC owned about 7.38% of Meridian worth $10,480,000 at the end of the most recent quarter.
Separately, Dimensional Fund Advisors LP increased its holdings in Meridian by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 171,249 shares of the company's stock valued at $1,801,000 after purchasing an additional 10,514 shares during the last quarter. Institutional investors own 58.56% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on MRBK. Piper Sandler upped their price objective on Meridian from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. DA Davidson raised their price objective on Meridian from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th.
View Our Latest Stock Analysis on MRBK
Meridian Price Performance
Shares of NASDAQ MRBK traded up $0.22 during mid-day trading on Monday, hitting $17.12. 14,337 shares of the stock traded hands, compared to its average volume of 13,924. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.95. Meridian Co. has a twelve month low of $8.26 and a twelve month high of $17.19. The company has a market cap of $192.43 million, a PE ratio of 16.73 and a beta of 0.74. The firm has a 50 day simple moving average of $13.74 and a two-hundred day simple moving average of $11.88.
Meridian (NASDAQ:MRBK - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.35 by $0.07. The firm had revenue of $51.15 million for the quarter, compared to the consensus estimate of $26.57 million. Meridian had a return on equity of 6.99% and a net margin of 6.00%. As a group, equities research analysts forecast that Meridian Co. will post 1.29 EPS for the current fiscal year.
Meridian Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Tuesday, November 12th. Meridian's dividend payout ratio is 49.51%.
Meridian Profile
(
Free Report)
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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