Meridian Co. (NASDAQ:MRBK – Get Free Report) CEO Christopher J. Annas bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average price of $10.70 per share, for a total transaction of $21,400.00. Following the completion of the transaction, the chief executive officer now directly owns 362,378 shares of the company’s stock, valued at approximately $3,877,444.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed at this hyperlink.

Meridian trades up 0.9%

Shares of MRBK opened at $10.95 on Thursday. Meridian Co. has a one-year low of $8.26 and a one-year high of $14.24. 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 stock’s 50-day simple moving average is $10.87 and its 200-day simple moving average is $10.04. The company has a market cap of $122.49 million, a PE ratio of 10.43 and a beta of 0.74.

Meridian (NASDAQ:MRBK – Get Free Report) last released its quarterly earnings results on Friday, July 26. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Meridian had a net margin of 5.85% and a return on equity of 6.71%. The company had revenue of $26.09 million for the quarter, compared to analysts’ expectations of $25.57 million. Research analysts predict that Meridian Co. will post 1.25 EPS for the current year.

Meridian announces dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a dividend of $0.125. The ex-dividend date for this dividend was Monday, August 12th. This represents an annualized dividend of $0.50 and a dividend yield of 4.57%. Meridian’s payout ratio is 47.62%.

Institutional investors weigh in on Meridian

Several hedge funds and other institutional investors have recently modified their holdings of MRBK. LSV Asset Management increased its holdings in shares of Meridian by 3.5% in the fourth quarter. LSV Asset Management now owns 92,822 shares of the company’s stock worth $1,290,000 after purchasing an additional 3,114 shares during the period. Banc Funds Co. LLC increased its holdings in shares of Meridian by 7.4% in the fourth quarter. Banc Funds Co. LLC now owns 782,678 shares of the company’s stock worth $10,879,000 after purchasing an additional 53,990 shares during the period. Borer Denton & Associates Inc. purchased a new stake in shares of Meridian during the fourth quarter worth approximately $476,000. Mendon Capital Advisors Corp purchased a new stake in shares of Meridian during the fourth quarter worth approximately $670,000. Finally, Strid Group LLC purchased a new stake in shares of Meridian during the first quarter worth approximately $431,000. 58.56% of the shares are currently owned by hedge funds and other institutional investors.

Wall Street analysts predict growth

Separately, Piper Sandler raised their price target on Meridian from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th.

View our latest research report on Meridian

Company Profile Meridian

(Get free report)

Meridian Corporation operates as the holding company for Meridian Bank, which provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Florida and Maryland. The company offers a variety of deposit products, including demand-non-interest bearing, demand-interest bearing, savings accounts, money market accounts and time deposits.

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