Meridian Co. (NASDAQ:MRBK – Get Free Report) CFO Denise Lindsay acquired 2,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $9.01 per share, for a total transaction of $18,020.00. Following the purchase, the chief financial officer now directly owns 82,000 shares of the company’s stock, valued at approximately $738,820. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.
Denise Lindsay also recently made the following trade(s):
- On Monday, February 26th, Denise Lindsay purchased 2,000 shares of Meridian stock. The shares were bought at an average price of $9.66 per share, for a total transaction of $19,320.00.
Meridian Stock Performance
Shares of Meridian stock opened at $8.75 on Monday. The firm has a market cap of $97.91 million, a PE 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 52 week low of $7.80 and a 52 week high of $14.24. The business’s fifty day simple moving average is $9.40 and its 200-day simple moving average is $11.10.
Meridian Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.50 annualized dividend and a yield of 5.71%. Meridian’s dividend payout ratio (DPR) is presently 47.62%.
Institutional Trading of Meridian
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meridian Wealth Partners LLC raised its holdings in shares of Meridian by 11.8% in the 3rd quarter. Meridian Wealth Partners LLC now owns 191,369 shares of the company’s stock valued at $1,874,000 after buying an additional 20,138 shares during the period. Borer Denton & Associates Inc. acquired a new position in Meridian in the 4th quarter valued at about $476,000. Banc Funds Co. LLC grew its position in Meridian by 7.4% in the 4th quarter. Banc Funds Co. LLC now owns 782,678 shares of the company’s stock valued at $10,879,000 after acquiring an additional 53,990 shares in the last quarter. Strid Group LLC purchased a new stake in Meridian during the first quarter worth about $431,000. Finally, LSV Asset Management lifted its position in shares of Meridian by 3.5% during 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 in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.
Analyst Ratings Changes
Several research firms recently issued reports on MRBK. Piper Sandler cut shares of Meridian from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $14.00 to $13.00 in a research report on Monday, January 29th. TheStreet downgraded shares of Meridian from a “b-” rating to a “c” rating in a report on Friday, January 26th.
Check Out Our Latest Analysis on MRBK
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.
Featured Stories
- Five stocks we like better than Meridian
- The 3 Best Fintech Stocks to Buy Now
- MarketBeat Week in Review – 4/29 – 5/3
- Trading Halts Explained
- Apple’s Earnings Show Investors Its Strength and Its Weakness
- What Do S&P 500 Stocks Tell Investors About the Market?
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
Receive News & Ratings for Meridian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meridian and related companies with MarketBeat.com's FREE daily email newsletter.