Meridian (NASDAQ:MRBK) Shares Up 0.5%

Shares of Meridian Co. (NASDAQ:MRBK) traded up 0.5% on Monday . The stock traded as high as $10.75 and last traded at $10.65. 17,618 shares changed hands during trading, an increase of 39% from the average session volume of 12,677 shares. The stock had previously closed at $10.60.

Meridian Stock Up 1.1 %

The stock has a market cap of $121.52 million, a price-to-earnings ratio of 10.34 and a beta of 0.74. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The business’s fifty day moving average is $9.99 and its two-hundred day moving average is $10.46.

Meridian (NASDAQ:MRBK) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $45.20 million during the quarter, compared to analysts’ expectations of $23.68 million. Meridian had a return on equity of 7.59% and a net margin of 6.75%. Equities analysts forecast that Meridian Co. will post 1.35 earnings per share for the current fiscal year.

Meridian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a dividend of $0.125 per share. 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 4.60%. Meridian’s dividend payout ratio is currently 47.62%.

Hedge Funds Weigh In On Meridian

A number of institutional investors have recently bought and sold shares of the stock. Strid Group LLC bought a new position in Meridian during the first quarter valued at about $431,000. Borer Denton & Associates Inc. bought a new position in Meridian during the 4th quarter worth about $476,000. Acadian Asset Management LLC grew its stake in Meridian by 4.6% in the first quarter. Acadian Asset Management LLC now owns 54,409 shares of the company’s stock valued at $538,000 after purchasing an additional 2,396 shares in the last quarter. Mendon Capital Advisors Corp bought a new position in Meridian during the fourth quarter worth $670,000. Finally, LSV Asset Management grew its holdings in shares of 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 purchasing an additional 3,114 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

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.