28,790 Shares in Meridian Co. (NASDAQ:MRBK) Acquired by Ancora Advisors LLC

Ancora Advisors LLC purchased a new stake in Meridian Co. (NASDAQ:MRBK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 28,790 shares of the company's stock, valued at approximately $395,000. Ancora Advisors LLC owned approximately 0.26% of Meridian as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Meridian by 6.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 210,758 shares of the company's stock worth $2,889,000 after purchasing an additional 12,984 shares during the last quarter. Truffle Hound Capital LLC bought a new position in shares of Meridian in the 4th quarter valued at about $2,742,000. Geode Capital Management LLC increased its position in shares of Meridian by 3.1% in the third quarter. Geode Capital Management LLC now owns 93,534 shares of the company's stock valued at $1,183,000 after acquiring an additional 2,838 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Meridian by 14.0% during the 4th quarter. Renaissance Technologies LLC now owns 78,900 shares of the company's stock worth $1,082,000 after acquiring an additional 9,700 shares during the period. Finally, Mendon Capital Advisors Corp increased its holdings in shares of Meridian by 161.4% in the fourth quarter. Mendon Capital Advisors Corp now owns 48,587 shares of the company's stock valued at $666,000 after purchasing an additional 30,000 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Meridian Stock Performance

Shares of NASDAQ:MRBK traded up $0.68 on Monday, reaching $14.04. 13,714 shares of the company's stock were exchanged, compared to its average volume of 56,676. Meridian Co. has a twelve month low of $9.02 and a twelve month high of $17.33. The company has a fifty day moving average of $13.72 and a 200-day moving average of $14.70. The company has a market capitalization of $158.44 million, a price-to-earnings ratio of 9.68 and a beta of 0.71. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30.

Meridian (NASDAQ:MRBK - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.12). The business had revenue of $27.10 million for the quarter, compared to the consensus estimate of $27.93 million. Meridian had a return on equity of 10.01% and a net margin of 8.28%. On average, research analysts predict that Meridian Co. will post 2.07 EPS for the current fiscal year.

Meridian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 12th will be issued 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 dividend yield of 3.56%. Meridian's dividend payout ratio (DPR) is presently 35.21%.

Analyst Ratings Changes

MRBK has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on Meridian from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. DA Davidson reduced their price target on Meridian from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, April 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.