Meridian Co. (NASDAQ:MRBK) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 84,300 shares, a growth of 30.7% from the March 31st total of 64,500 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average daily trading volume, of 33,800 shares, the short-interest ratio is presently 2.5 days.
Separately, Zacks Investment Research raised Meridian from a “sell” rating to a “hold” rating in a research note on Tuesday.
MRBK stock opened at $26.18 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $161.48 million, a PE ratio of 7.86 and a beta of 0.49. Meridian has a 12-month low of $12.70 and a 12-month high of $27.96. The business’s fifty day moving average price is $25.85 and its 200 day moving average price is $22.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Monday, May 10th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, May 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.91%. Meridian’s payout ratio is currently 28.90%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MRBK. Hoover Financial Advisors Inc. purchased a new position in shares of Meridian in the 4th quarter valued at about $64,000. Dimensional Fund Advisors LP boosted its position in shares of Meridian by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,394 shares of the company’s stock valued at $258,000 after purchasing an additional 572 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Meridian in the 1st quarter valued at about $312,000. Barclays PLC boosted its position in shares of Meridian by 675.0% in the 4th quarter. Barclays PLC now owns 18,654 shares of the company’s stock valued at $388,000 after purchasing an additional 16,247 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Meridian by 53.0% in the 4th quarter. Bank of New York Mellon Corp now owns 19,025 shares of the company’s stock valued at $396,000 after purchasing an additional 6,590 shares during the period. Institutional investors and hedge funds own 39.47% of the company’s stock.
Meridian Corporation operates as the bank holding for Meridian Bank that provides commercial banking products and services for small and middle market businesses primarily in southeast Pennsylvania, Delaware, and southern New Jersey. The company offers non-interest and interest checking deposits and time deposits, as well as money market, and savings accounts; and commercial and industrial loans, commercial real estate loans, and consumer and home equity loans, as well as business lines of credit, term loans, small business lending, lease financing, and shared national credits.
Recommended Story: Range Trading
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.