Short Interest in Meridian Co. (NASDAQ:MRBK) Grows By 68.5%

Meridian Co. (NASDAQ:MRBKGet Free Report) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 15,500 shares, an increase of 68.5% from the January 15th total of 9,200 shares. Based on an average daily trading volume, of 35,000 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Meridian

Hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Meridian during the 3rd quarter valued at $128,000. Barclays PLC boosted its holdings in shares of Meridian by 10.0% during the 3rd quarter. Barclays PLC now owns 40,406 shares of the company’s stock valued at $511,000 after buying an additional 3,675 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Meridian by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 93,534 shares of the company’s stock valued at $1,183,000 after buying an additional 2,838 shares in the last quarter. Banc Funds Co. LLC boosted its holdings in shares of Meridian by 4.7% during the 3rd quarter. Banc Funds Co. LLC now owns 829,153 shares of the company’s stock valued at $10,480,000 after buying an additional 37,450 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Meridian during the 4th quarter valued at $186,000. Institutional investors own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MRBK shares. Piper Sandler lifted their target price on shares of Meridian from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. DA Davidson boosted their price objective on shares of Meridian from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th.

Get Our Latest Stock Analysis on Meridian

Meridian Trading Down 0.7 %

Meridian stock traded down $0.11 during mid-day trading on Friday, reaching $16.78. 94,638 shares of the company traded hands, compared to its average volume of 44,410. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.95. The firm’s 50 day moving average price is $15.27 and its 200 day moving average price is $13.69. The firm has a market capitalization of $188.61 million, a price-to-earnings ratio of 11.57 and a beta of 0.83. Meridian has a 52-week low of $8.26 and a 52-week high of $17.33.

Meridian (NASDAQ:MRBKGet Free Report) last issued its quarterly earnings data on Friday, January 24th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. Meridian had a net margin of 8.28% and a return on equity of 10.01%. On average, analysts anticipate that Meridian will post 2.07 earnings per share for the current fiscal year.

Meridian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Monday, February 10th. Meridian’s dividend payout ratio (DPR) is presently 34.48%.

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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