Meridian Co. (NASDAQ:MRBK – Get Rating)’s share price was down 0.1% during trading on Tuesday . The stock traded as low as $31.90 and last traded at $31.96. Approximately 12,401 shares were traded during mid-day trading, an increase of 47% from the average daily volume of 8,440 shares. The stock had previously closed at $32.00.
Wall Street Analyst Weigh In
Separately, Piper Sandler lowered their price objective on Meridian to $39.00 in a research report on Friday, November 4th.
Meridian Stock Performance
The stock has a market cap of $185.37 million, a P/E ratio of 7.91 and a beta of 0.47. The business has a 50 day moving average price of $32.12 and a 200 day moving average price of $30.87. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.27.
Meridian Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, November 21st. Investors of record on Monday, November 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.50%. Meridian’s payout ratio is 19.80%.
Institutional Trading of Meridian
A number of large investors have recently modified their holdings of MRBK. FMR LLC lifted its holdings in Meridian by 1.6% during the second quarter. FMR LLC now owns 228,581 shares of the company’s stock worth $6,926,000 after buying an additional 3,497 shares during the period. BlackRock Inc. lifted its holdings in Meridian by 26.9% during the third quarter. BlackRock Inc. now owns 127,698 shares of the company’s stock worth $3,725,000 after buying an additional 27,050 shares during the period. Fourthstone LLC lifted its holdings in Meridian by 26.9% during the first quarter. Fourthstone LLC now owns 120,109 shares of the company’s stock worth $3,854,000 after buying an additional 25,466 shares during the period. Meridian Wealth Partners LLC lifted its holdings in Meridian by 11.5% during the third quarter. Meridian Wealth Partners LLC now owns 84,476 shares of the company’s stock worth $2,464,000 after buying an additional 8,697 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Meridian by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 49,625 shares of the company’s stock worth $1,592,000 after buying an additional 5,565 shares during the period. Hedge funds and other institutional investors own 49.12% of the company’s stock.
Meridian Corp. is a bank holding company, which engages in the provision of commercial and consumer banking services. It operates through the following segments: Banking, Meridian Wealth, and Mortgage Banking. The Banking segment consists of commercial and retail banking. The Meridian Wealth segment offers wealth management services and products.
- Get a free copy of the StockNews.com research report on Meridian (MRBK)
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