Meridian Bank (NASDAQ:MRBK) Director Kenneth Thomas Warriner Purchases 1,000 Shares of Stock

Meridian Bank (NASDAQ:MRBK) Director Kenneth Thomas Warriner purchased 1,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $18,000.00. Following the purchase, the director directly owned 3,000 shares in the company, valued at approximately $54,000. The trade was a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Kenneth Thomas Warriner also recently made the following trade(s):

• On Thursday, April 30th, Kenneth Thomas Warriner acquired 1,000 shares of Meridian Bank stock. The shares were acquired at an average cost of $18.41 per share, with a total value of $18,410.00.

Meridian Bank Trading Up 1.0%

NASDAQ:MRBK opened at $20.05 on Friday. Meridian Bank has a one year low of $11.87 and a one year high of $21.67. The business has a fifty day moving average price of $18.72 and a 200-day moving average price of $18.75. The firm has a market capitalization of $238.39 million, a price-to-earnings ratio of 9.69 and a beta of 0.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.96.

Meridian Bank (NASDAQ:MRBK) last released its earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.09). The company had revenue of $30.24 million for the quarter, compared to analysts’ expectations of $31.79 million. Meridian Bank had a net margin of 11.68% and a return on equity of 12.61%. Sell-side analysts forecast that Meridian Bank will post 1.85 EPS for the current year.

Meridian Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, May 4th. Meridian Bank’s dividend payout ratio (DPR) is presently 27.05%.

Analyst Ratings Changes

MRBK has been the topic of several research reports. DA Davidson boosted their price target on shares of Meridian Bank from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Wall Street Zen lowered shares of Meridian Bank from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings raised shares of Meridian Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 5th. Piper Sandler set a $21.00 target price on shares of Meridian Bank and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Zacks Research downgraded shares of Meridian Bank from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Hedge Funds Weigh In On Meridian Bank

Hedge funds have recently bought and sold shares of the business. Segall Bryant & Hamill LLC acquired a new stake in Meridian Bank during the 3rd quarter worth about $1,996,000. Maltese Capital Management LLC lifted its holdings in shares of Meridian Bank by 333.2% in the 4th quarter. Maltese Capital Management LLC now owns 34,523 shares of the company’s stock valued at $607,000 after buying an additional 26,554 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Meridian Bank by 121.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,548 shares of the company’s stock valued at $151,000 after buying an additional 5,230 shares during the period. Integrated Quantitative Investments LLC purchased a new stake in shares of Meridian Bank in the third quarter worth about $256,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Meridian Bank by 125.9% in the third quarter. BNP Paribas Financial Markets now owns 4,183 shares of the company’s stock worth $66,000 after buying an additional 2,331 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

About Meridian Bank

Meridian Bank, a Pennsylvania-chartered institution founded in 1993 and headquartered in Philadelphia, operates as a full-service community bank serving the Greater Philadelphia region. As a wholly owned subsidiary of Meridian Bancorp, Inc (NASDAQ: MRBK), the bank maintains a network of branch locations complemented by online and mobile platforms to meet the evolving needs of individual and business customers.

On the consumer side, Meridian Bank offers a comprehensive suite of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside personal lending solutions such as home equity lines of credit, residential mortgage loans and unsecured consumer loans.