Denise Lindsay Acquires 2,000 Shares of Meridian Co. (NASDAQ:MRBK) Stock

Meridian Co. (NASDAQ:MRBKGet Free Report) CFO Denise Lindsay purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average cost of $9.01 per share, for a total transaction of $18,020.00. Following the completion of the transaction, the chief financial officer now owns 82,000 shares in the company, valued at approximately $738,820. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Denise Lindsay also recently made the following trade(s):

  • On Monday, February 26th, Denise Lindsay bought 2,000 shares of Meridian stock. The shares were acquired at an average price of $9.66 per share, with a total value of $19,320.00.

Meridian Stock Performance

MRBK stock opened at $8.75 on Friday. The company has a 50-day simple moving average of $9.40 and a 200 day simple moving average of $11.09. The company has a market capitalization of $97.91 million, a P/E ratio of 8.33 and a beta of 0.70. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. Meridian Co. has a fifty-two week low of $7.80 and a fifty-two week high of $14.24.

Meridian (NASDAQ:MRBKGet Free Report) last issued its quarterly earnings results on Friday, April 26th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $45.20 million during the quarter, compared to analyst estimates of $23.68 million. Meridian had a net margin of 6.75% and a return on equity of 7.64%. Sell-side analysts predict that Meridian Co. will post 1.35 earnings per share for the current fiscal year.

Meridian Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend is Friday, May 10th. Meridian’s payout ratio is currently 47.62%.

Analyst Upgrades and Downgrades

MRBK has been the topic of several research reports. TheStreet lowered shares of Meridian from a “b-” rating to a “c” rating in a research note on Friday, January 26th. Piper Sandler downgraded Meridian from an “overweight” rating to a “neutral” rating and cut their target price for the company from $14.00 to $13.00 in a research note on Monday, January 29th.

View Our Latest Stock Report on Meridian

Hedge Funds Weigh In On Meridian

Several hedge funds have recently modified their holdings of MRBK. Strid Group LLC acquired a new stake in shares of Meridian in the first quarter valued at $431,000. Borer Denton & Associates Inc. bought a new stake in Meridian in the fourth quarter worth about $476,000. Mendon Capital Advisors Corp acquired a new stake in Meridian in the 4th quarter valued at about $670,000. LSV Asset Management lifted 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 acquiring an additional 3,114 shares during the last quarter. Finally, Meridian Wealth Partners LLC boosted its position in shares of Meridian by 11.8% during the 3rd quarter. Meridian Wealth Partners LLC now owns 191,369 shares of the company’s stock valued at $1,874,000 after purchasing an additional 20,138 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

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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