Meridian Co. (NASDAQ:MRBK) Stock Position Reduced by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC lowered its stake in shares of Meridian Co. (NASDAQ:MRBK) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,643 shares of the company’s stock after selling 2,000 shares during the period. Bridgeway Capital Management LLC owned about 0.77% of Meridian worth $1,188,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MRBK. Northern Trust Corp raised its holdings in shares of Meridian by 16.5% during the fourth quarter. Northern Trust Corp now owns 18,452 shares of the company’s stock worth $253,000 after acquiring an additional 2,609 shares in the last quarter. Barclays PLC lifted 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 during the last quarter. Citadel Advisors LLC grew its stake in shares of Meridian by 29.0% in the 4th quarter. Citadel Advisors LLC now owns 18,347 shares of the company’s stock valued at $252,000 after buying an additional 4,129 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Meridian by 14.0% in the fourth quarter. Renaissance Technologies LLC now owns 78,900 shares of the company’s stock worth $1,082,000 after buying an additional 9,700 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Meridian during the fourth quarter valued at approximately $139,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Meridian Trading Down 0.9 %

Shares of MRBK stock opened at $13.48 on Friday. The business’s 50 day moving average is $13.72 and its two-hundred day moving average is $14.69. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.30. Meridian Co. has a 12 month low of $9.02 and a 12 month high of $17.33. The company has a market cap of $152.12 million, a PE ratio of 9.30 and a beta of 0.71.

Meridian (NASDAQ:MRBK) last announced its earnings results on Friday, April 25th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.12). Meridian had a return on equity of 10.01% and a net margin of 8.28%. The firm had revenue of $27.10 million during the quarter, compared to the consensus estimate of $27.93 million. Equities analysts predict that Meridian Co. will post 2.07 EPS for the current year.

Meridian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 12th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.50 annualized dividend and a yield of 3.71%. Meridian’s payout ratio is 35.21%.

Analyst Ratings Changes

Several research analysts have recently commented on MRBK shares. Piper Sandler dropped their price target on shares of Meridian from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. DA Davidson cut their target price on Meridian from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th.

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.