LSV Asset Management Acquires 3,114 Shares of Meridian Co. (NASDAQ:MRBK)

LSV Asset Management boosted its stake in shares of Meridian Co. (NASDAQ:MRBK) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,822 shares of the company’s stock after buying an additional 3,114 shares during the period. LSV Asset Management owned 0.83% of Meridian worth $1,290,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Meridian Wealth Partners LLC increased its stake in Meridian by 11.8% during the 3rd quarter. Meridian Wealth Partners LLC now owns 191,369 shares of the company’s stock valued at $1,874,000 after purchasing an additional 20,138 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MRBK. TheStreet lowered shares of Meridian from a “b-” rating to a “c” rating in a report on Friday, January 26th. Piper Sandler cut Meridian from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $13.00 in a research note on Monday, January 29th.

Meridian Stock Up 1.6 %

MRBK stock opened at $9.13 on Friday. The company has a market capitalization of $102.13 million, a P/E ratio of 8.70 and a beta of 0.70. The firm’s fifty day simple moving average is $9.35 and its 200-day simple moving average is $11.06. Meridian Co. has a 12 month low of $8.26 and a 12 month 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 released its quarterly earnings data on Friday, April 26th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $45.20 million during 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 research analysts forecast that Meridian Co. will post 1.35 earnings per share for the current year.

Meridian Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend is Friday, May 10th. Meridian’s payout ratio is 47.62%.

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.