Banc Funds Co. LLC Sells 67,844 Shares of Meridian Co. (NASDAQ:MRBK)

Banc Funds Co. LLC trimmed its position in Meridian Co. (NASDAQ:MRBK - Free Report) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 761,309 shares of the company's stock after selling 67,844 shares during the quarter. Banc Funds Co. LLC owned approximately 6.77% of Meridian worth $10,438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of MRBK. Y Intercept Hong Kong Ltd bought a new position in shares of Meridian during the 4th quarter valued at about $139,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Meridian by 265.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,959 shares of the company's stock worth $507,000 after acquiring an additional 26,835 shares in the last quarter. Barclays PLC lifted its position in Meridian by 10.0% during the 3rd quarter. Barclays PLC now owns 40,406 shares of the company's stock worth $511,000 after acquiring an additional 3,675 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Meridian by 122.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 44,707 shares of the company's stock valued at $613,000 after buying an additional 24,648 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings 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 purchasing an additional 9,700 shares during the period. Institutional investors own 58.56% of the company's stock.

Meridian Price Performance

Shares of MRBK traded up $0.51 during mid-day trading on Tuesday, reaching $13.63. The company had a trading volume of 13,676 shares, compared to its average volume of 28,319. Meridian Co. has a twelve month low of $8.27 and a twelve month high of $17.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.95. The company's 50-day moving average is $14.38 and its 200-day moving average is $14.64. The company has a market capitalization of $153.83 million, a P/E ratio of 9.44 and a beta of 0.68.

Meridian (NASDAQ:MRBK - Get Free Report) last posted its quarterly earnings results on Friday, January 24th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.14. Meridian had a return on equity of 10.01% and a net margin of 8.28%. On average, equities analysts anticipate that Meridian Co. will post 2.07 EPS for the current year.

Meridian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.50 annualized dividend and a dividend yield of 3.67%. Meridian's dividend payout ratio is currently 34.48%.

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.