Truffle Hound Capital LLC Acquires Shares of 200,000 Meridian Co. (NASDAQ:MRBK)

Truffle Hound Capital LLC bought a new stake in Meridian Co. (NASDAQ:MRBK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 200,000 shares of the company's stock, valued at approximately $2,742,000. Meridian accounts for approximately 1.0% of Truffle Hound Capital LLC's investment portfolio, making the stock its 28th biggest holding. Truffle Hound Capital LLC owned 1.78% of Meridian as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Meridian in the third quarter valued at approximately $128,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Meridian during the fourth quarter worth about $139,000. Barclays PLC increased its stake in shares of Meridian by 10.0% during the third quarter. Barclays PLC now owns 40,406 shares of the company's stock worth $511,000 after buying an additional 3,675 shares during the period. Geode Capital Management LLC grew its holdings in Meridian by 3.1% during 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 in the last quarter. Finally, Banc Funds Co. LLC lifted its position in shares of Meridian by 4.7% during the 3rd quarter. Banc Funds Co. LLC now owns 829,153 shares of the company's stock worth $10,480,000 after purchasing an additional 37,450 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company's stock.

Meridian Stock Down 0.1 %

MRBK stock traded down $0.02 during trading on Wednesday, hitting $14.35. 36,472 shares of the company's stock were exchanged, compared to its average volume of 25,043. The stock has a market capitalization of $161.94 million, a price-to-earnings ratio of 9.90 and a beta of 0.87. Meridian Co. has a 52-week low of $8.26 and a 52-week high of $17.33. 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 business has a 50-day moving average price of $15.52 and a two-hundred day moving average price of $14.47.

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Meridian (NASDAQ:MRBK - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The company reported $0.49 earnings per share 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, equities research analysts expect that Meridian Co. will post 2.07 EPS for the current year.

Meridian Dividend Announcement

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 dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, February 10th. Meridian's dividend payout ratio (DPR) is presently 34.48%.

Meridian 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.