Meridian Co. (NASDAQ:MRBK) Short Interest Update

Meridian Co. (NASDAQ:MRBK - Get Free Report) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 51,400 shares, an increase of 227.4% from the February 13th total of 15,700 shares. Based on an average daily volume of 49,400 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.5% of the company's stock are sold short.

Meridian Stock Down 0.2 %

Shares of MRBK traded down $0.02 during midday trading on Thursday, hitting $13.88. The company had a trading volume of 20,297 shares, compared to its average volume of 56,615. The company's 50-day simple moving average is $15.51 and its 200-day simple moving average is $14.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 0.97. Meridian has a 1 year low of $8.26 and a 1 year high of $17.33. The firm has a market capitalization of $155.99 million, a P/E ratio of 9.58 and a beta of 0.87.

Meridian (NASDAQ:MRBK - Get Free Report) last posted its quarterly earnings results on Friday, January 24th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. Meridian had a net margin of 8.28% and a return on equity of 10.01%. As a group, sell-side analysts expect that Meridian will post 2.07 EPS for the current year.

Meridian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $0.125 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.50 annualized dividend and a yield of 3.60%. Meridian's dividend payout ratio is presently 34.48%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Meridian in the 3rd quarter valued at $128,000. Barclays PLC raised its holdings in shares of 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 buying an additional 3,675 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Meridian by 3.1% during the third quarter. Geode Capital Management LLC now owns 93,534 shares of the company's stock worth $1,183,000 after buying an additional 2,838 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Meridian during the fourth quarter worth about $139,000. Finally, Banc Funds Co. LLC increased its position in Meridian by 4.7% in the 3rd quarter. Banc Funds Co. LLC now owns 829,153 shares of the company's stock valued at $10,480,000 after acquiring an additional 37,450 shares during the period. Hedge funds and other institutional investors own 58.56% of the company's stock.

Meridian Company Profile

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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