Short Interest in Meridian Co. (NASDAQ:MRBK) Expands By 55.3%

Meridian Co. (NASDAQ:MRBKGet Rating) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 5,900 shares, an increase of 55.3% from the April 15th total of 3,800 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 10,100 shares, the days-to-cover ratio is currently 0.6 days.

NASDAQ:MRBK opened at $32.49 on Friday. Meridian has a 1 year low of $24.00 and a 1 year high of $39.78. The firm’s fifty day simple moving average is $32.31 and its 200 day simple moving average is $34.28. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $198.51 million, a PE ratio of 6.54 and a beta of 0.50.

Meridian (NASDAQ:MRBKGet Rating) last posted its earnings results on Monday, May 2nd. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.11. Meridian had a net margin of 21.19% and a return on equity of 19.48%. The business had revenue of $29.14 million for the quarter, compared to analyst estimates of $28.21 million. As a group, analysts anticipate that Meridian will post 3.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 23rd. Investors of record on Monday, May 16th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.46%. Meridian’s payout ratio is presently 16.10%.

Separately, Zacks Investment Research lowered shares of Meridian from a “strong-buy” rating to a “hold” rating in a research note on Saturday, February 5th.

A number of large investors have recently bought and sold shares of the stock. River Oaks Capital LLC acquired a new position in Meridian in the 4th quarter valued at $4,486,000. Strategic Value Bank Partners LLC bought a new stake in Meridian in the 4th quarter valued at $11,974,000. Petiole USA ltd bought a new stake in Meridian in the 4th quarter valued at $6,435,000. Fourthstone LLC boosted its holdings in Meridian by 26.9% in the 1st quarter. Fourthstone LLC now owns 120,109 shares of the company’s stock valued at $3,854,000 after purchasing an additional 25,466 shares during the period. Finally, BlackRock Inc. boosted its holdings in Meridian by 2.0% in the 1st quarter. BlackRock Inc. now owns 104,792 shares of the company’s stock valued at $3,362,000 after purchasing an additional 2,044 shares during the period. Institutional investors and hedge funds own 57.00% of the company’s stock.

Meridian Company Profile (Get Rating)

Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, 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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