Strid Group LLC Cuts Stake in Meridian Co. (NASDAQ:MRBK)

Strid Group LLC lessened its holdings in shares of Meridian Co. (NASDAQ:MRBK) by 56.2% during the 3rd quarter, Holdings Channel reports. The firm owned 10,000 shares of the company’s stock after selling 12,849 shares during the period. Strid Group LLC’s holdings in Meridian were worth $126,000 at the end of the most recent reporting period.

Separately, Acadian Asset Management LLC lifted its position in shares of Meridian by 4.6% in the first quarter. Acadian Asset Management LLC now owns 54,409 shares of the company’s stock worth $538,000 after buying an additional 2,396 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Wall Street Analyst Weigh In

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

Meridian Price Performance

Shares of Meridian stock opened at $13.05 on Friday. The stock has a 50 day moving average price of $11.88 and a 200-day moving average price of $10.70. Meridian Co. has a one year low of $8.26 and a one year high of $14.24. The stock has a market cap of $145.98 million, a price-to-earnings ratio of 12.43 and a beta of 0.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.95 and a current ratio of 0.97.

Meridian (NASDAQ:MRBK) last released its earnings results on Friday, July 26th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.02). The firm had revenue of $26.09 million during the quarter, compared to the consensus estimate of $25.57 million. Meridian had a return on equity of 6.66% and a net margin of 5.85%. Equities analysts expect that Meridian Co. will post 1.25 EPS for the current year.

Meridian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.50 annualized dividend and a dividend yield of 3.83%. Meridian’s dividend payout ratio (DPR) is presently 47.62%.

About Meridian

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.