Meridian Co. (NASDAQ:MRBK) CFO Acquires $16,020.00 in Stock

Meridian Co. (NASDAQ:MRBK) CFO Denise Lindsay bought 1,500 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $10.68 per share, for a total transaction of $16,020.00. Following the transaction, the chief financial officer now directly owns 84,000 shares in the company, valued at $897,120. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Meridian Stock Performance

NASDAQ:MRBK opened at $10.24 on Thursday. Meridian Co. has a twelve month low of $8.26 and a twelve month high of $14.24. The company has a market cap of $114.54 million, a P/E ratio of 9.75 and a beta of 0.74. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $10.83 and its 200-day moving average price is $10.09.

Meridian Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 12th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, August 12th. This represents a $0.50 dividend on an annualized basis and a yield of 4.88%. Meridian’s payout ratio is 47.62%.

Wall Street Analyst Weigh In

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

Institutional Trading of Meridian

Several large investors have recently added to or reduced their stakes in MRBK. Acadian Asset Management LLC raised its holdings 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 acquiring an additional 2,396 shares during the period. Borer Denton & Associates Inc. acquired a new stake in Meridian during the fourth quarter worth about $476,000. Banc Funds Co. LLC raised its stake in Meridian by 7.4% during 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. LSV Asset Management boosted its holdings in Meridian by 3.5% in the 4th 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. Finally, Dimensional Fund Advisors LP grew its stake in shares of Meridian by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 171,249 shares of the company’s stock valued at $1,801,000 after buying an additional 10,514 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

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.