Denise Lindsay Acquires 2,000 Shares of Meridian Co. (NASDAQ:MRBK) Stock

Meridian Co. (NASDAQ:MRBK) CFO Denise Lindsay bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average cost of $9.01 per share, for a total transaction of $18,020.00. Following the completion of the transaction, the chief financial officer now owns 82,000 shares of the company’s stock, valued at $738,820. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Denise Lindsay also recently made the following trade(s):

• On Monday, February 26th, Denise Lindsay acquired 2,000 shares of Meridian stock. The stock was purchased at an average price of $9.66 per share, with a total value of $19,320.00.

Meridian Stock Performance

NASDAQ:MRBK opened at $8.75 on Friday. The firm has a market capitalization of $97.91 million, a PE ratio of 8.33 and a beta of 0.70. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. Meridian Co. has a 12-month low of $7.80 and a 12-month high of $14.24. The firm has a 50-day moving average price of $9.40 and a 200 day moving average price of $11.09.

Meridian (NASDAQ:MRBK) last released its quarterly earnings data on Friday, April 26th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $45.20 million for the quarter, compared to analyst estimates of $23.68 million. Meridian had a return on equity of 7.64% and a net margin of 6.75%. Research analysts anticipate that Meridian Co. will post 1.35 earnings per share for the current fiscal year.

Meridian Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend is Friday, May 10th. Meridian’s payout ratio is 47.62%.

Institutional Trading of Meridian

Several hedge funds have recently modified their holdings of the company. Meridian Wealth Partners LLC increased its stake in shares of Meridian by 11.8% in the third quarter. Meridian Wealth Partners LLC now owns 191,369 shares of the company’s stock valued at $1,874,000 after buying an additional 20,138 shares in the last quarter. LSV Asset Management lifted its holdings in Meridian by 3.5% during the 4th quarter. LSV Asset Management now owns 92,822 shares of the company’s stock worth $1,290,000 after buying an additional 3,114 shares in the last quarter. Banc Funds Co. LLC boosted its position in Meridian by 7.4% in the 4th quarter. Banc Funds Co. LLC now owns 782,678 shares of the company’s stock valued at $10,879,000 after buying an additional 53,990 shares during the last quarter. Borer Denton & Associates Inc. acquired a new stake in shares of Meridian in the 4th quarter valued at $476,000. Finally, Mendon Capital Advisors Corp bought a new stake in shares of Meridian during the fourth quarter worth $670,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MRBK. TheStreet cut Meridian from a “b-” rating to a “c” rating in a research report on Friday, January 26th. Piper Sandler lowered shares of Meridian from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $14.00 to $13.00 in a report on Monday, January 29th.

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.