Connor Clark & Lunn Investment Management Ltd. raised its stake in Meridian Co. (NASDAQ:MRBK - Free Report) by 265.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 36,959 shares of the company's stock after buying an additional 26,835 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.33% of Meridian worth $507,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of MRBK. Geode Capital Management LLC increased its holdings in shares of Meridian by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 93,534 shares of the company's stock worth $1,183,000 after acquiring an additional 2,838 shares during the period. Barclays PLC grew its position in Meridian by 10.0% in the 3rd quarter. Barclays PLC now owns 40,406 shares of the company's stock worth $511,000 after purchasing an additional 3,675 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Meridian during the fourth quarter valued at approximately $139,000. Finally, Banc Funds Co. LLC boosted its position in shares of Meridian by 4.7% during the third quarter. Banc Funds Co. LLC now owns 829,153 shares of the company's stock worth $10,480,000 after buying an additional 37,450 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.
Meridian Stock Performance
MRBK traded down $0.02 during trading hours on Wednesday, hitting $14.35. The company's stock had a trading volume of 36,472 shares, compared to its average volume of 24,961. The company has a 50-day simple moving average of $15.52 and a 200 day simple moving average of $14.47. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $161.94 million, a PE ratio of 9.90 and a beta of 0.87. Meridian Co. has a fifty-two week low of $8.26 and a fifty-two week high of $17.33.
Meridian (NASDAQ:MRBK - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.14. Meridian had a return on equity of 10.01% and a net margin of 8.28%. As a group, sell-side analysts expect that Meridian Co. will post 2.07 EPS for the current year.
Meridian Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Monday, February 10th. Meridian's dividend payout ratio is currently 34.48%.
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.
See Also
Before you consider Meridian, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meridian wasn't on the list.
While Meridian currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
