Meridian Co. (NASDAQ:MRBK) CFO Denise Lindsay Buys 2,000 Shares

Meridian Co. (NASDAQ:MRBK) CFO Denise Lindsay bought 2,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average price of $9.01 per share, for a total transaction of $18,020.00. Following the transaction, the chief financial officer now directly owns 82,000 shares in the company, valued at approximately $738,820. The transaction was disclosed in a document filed 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 stock was acquired at an average price of $9.66 per share, for a total transaction of $19,320.00.

Meridian Stock Performance

MRBK opened at $8.75 on Friday. The stock’s 50 day simple moving average is $9.40 and its 200 day simple moving average is $11.08. The stock has a market cap of $97.88 million, a P/E ratio of 8.33 and a beta of 0.70. Meridian Co. has a 1-year low of $7.80 and a 1-year high of $14.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.97.

Meridian (NASDAQ:MRBK) last posted its earnings results on Friday, April 26th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $45.20 million for the quarter, compared to analyst estimates of $23.68 million. Meridian had a return on equity of 7.64% and a net margin of 6.75%. As a group, equities analysts anticipate that Meridian Co. will post 1.35 EPS for the current fiscal year.

Meridian Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, May 10th. This represents a $0.50 annualized dividend and a dividend yield of 5.71%. Meridian’s dividend payout ratio is currently 47.62%.

Institutional Trading of Meridian

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strid Group LLC acquired a new position in shares of Meridian in the first quarter valued at approximately $431,000. Mendon Capital Advisors Corp acquired a new stake in Meridian in the 4th quarter worth about $670,000. Borer Denton & Associates Inc. purchased a new stake in Meridian in the 4th quarter valued at about $476,000. Banc Funds Co. LLC increased its stake in shares of Meridian by 7.4% during 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 during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Meridian by 3.5% during the 4th quarter. LSV Asset Management now owns 92,822 shares of the company’s stock worth $1,290,000 after acquiring an additional 3,114 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MRBK shares. TheStreet downgraded Meridian from a “b-” rating to a “c” rating in a report on Friday, January 26th. Piper Sandler downgraded shares of Meridian from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $14.00 to $13.00 in a report on Monday, January 29th.

About Meridian

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.