Mendon Capital Advisors Corp Grows Stock Position in Meridian Co. (NASDAQ:MRBK)

Mendon Capital Advisors Corp increased its stake in shares of Meridian Co. (NASDAQ:MRBK - Free Report) by 161.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,587 shares of the company's stock after purchasing an additional 30,000 shares during the quarter. Mendon Capital Advisors Corp owned 0.43% of Meridian worth $666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Meridian in the 4th quarter worth $139,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Meridian by 265.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,959 shares of the company's stock worth $507,000 after purchasing an additional 26,835 shares in the last quarter. Barclays PLC lifted its position in Meridian by 10.0% in the third quarter. Barclays PLC now owns 40,406 shares of the company's stock valued at $511,000 after purchasing an additional 3,675 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Meridian by 122.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 44,707 shares of the company's stock valued at $613,000 after purchasing an additional 24,648 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Meridian by 14.0% during the 4th quarter. Renaissance Technologies LLC now owns 78,900 shares of the company's stock worth $1,082,000 after purchasing an additional 9,700 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Meridian Stock Performance

Shares of MRBK stock traded down $0.22 during trading hours on Friday, reaching $13.95. 71,935 shares of the company's stock were exchanged, compared to its average volume of 29,061. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.95. The company's 50 day moving average is $14.21 and its two-hundred day moving average is $14.64. The company has a market cap of $157.43 million, a P/E ratio of 9.62 and a beta of 0.68. Meridian Co. has a 1 year low of $8.69 and a 1 year high of $17.33.

Meridian (NASDAQ:MRBK - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.12). Meridian had a return on equity of 10.01% and a net margin of 8.28%. Equities research analysts anticipate that Meridian Co. will post 2.07 EPS for the current fiscal year.

About Meridian

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.