Meridian (NASDAQ:MRBK) Stock Price Up 3.7%

Meridian Co. (NASDAQ:MRBKGet Free Report) shares traded up 3.7% on Friday . The company traded as high as $10.45 and last traded at $10.34. 6,939 shares traded hands during trading, a decline of 49% from the average session volume of 13,586 shares. The stock had previously closed at $9.97.

Meridian Trading Up 3.7 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.96. The firm’s fifty day moving average is $9.30 and its two-hundred day moving average is $10.99. The firm has a market capitalization of $115.70 million, a PE ratio of 9.85 and a beta of 0.70.

Meridian (NASDAQ:MRBKGet Free Report) last posted its earnings results on Friday, April 26th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $45.20 million for the quarter, compared to analysts’ expectations of $23.68 million. Meridian had a net margin of 6.75% and a return on equity of 7.59%. On average, equities analysts predict that Meridian Co. will post 1.35 EPS for the current fiscal year.

Meridian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.50 dividend on an annualized basis and a yield of 4.84%. Meridian’s dividend payout ratio (DPR) is presently 47.62%.

Hedge Funds Weigh In On Meridian

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Strid Group LLC purchased a new stake in Meridian during the first quarter worth about $431,000. Borer Denton & Associates Inc. bought a new position in shares of Meridian during the 4th quarter valued at approximately $476,000. Acadian Asset Management LLC increased its stake in shares of Meridian by 4.6% during the 1st quarter. Acadian Asset Management LLC now owns 54,409 shares of the company’s stock worth $538,000 after purchasing an additional 2,396 shares during the last quarter. Mendon Capital Advisors Corp bought a new stake in shares of Meridian in the 4th quarter worth approximately $670,000. Finally, LSV Asset Management lifted its stake in Meridian by 3.5% in the fourth quarter. LSV Asset Management now owns 92,822 shares of the company’s stock valued at $1,290,000 after purchasing an additional 3,114 shares during the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Meridian Company Profile

(Get Free Report)

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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