Jane Street Group LLC Buys New Holdings in Meridian Co. (NASDAQ:MRBK)

Jane Street Group LLC bought a new position in shares of Meridian Co. (NASDAQ:MRBK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 23,499 shares of the company's stock, valued at approximately $322,000. Jane Street Group LLC owned 0.21% of Meridian as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MRBK. Y Intercept Hong Kong Ltd bought a new stake in Meridian during the fourth quarter worth approximately $139,000. Schonfeld Strategic Advisors LLC bought a new stake in Meridian during the fourth quarter worth approximately $186,000. Northern Trust Corp boosted its position in Meridian by 16.5% during the fourth quarter. Northern Trust Corp now owns 18,452 shares of the company's stock worth $253,000 after purchasing an additional 2,609 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Meridian by 265.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,959 shares of the company's stock worth $507,000 after purchasing an additional 26,835 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Meridian by 122.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 44,707 shares of the company's stock worth $613,000 after buying an additional 24,648 shares during the last quarter. Institutional investors own 58.56% of the company's stock.

Meridian Stock Performance

Shares of MRBK stock traded down $0.20 during trading hours on Wednesday, reaching $12.90. 39,618 shares of the company's stock were exchanged, compared to its average volume of 31,877. Meridian Co. has a fifty-two week low of $10.04 and a fifty-two week high of $17.33. The stock has a market capitalization of $145.58 million, a P/E ratio of 8.90 and a beta of 0.71. The business has a fifty day moving average price of $13.56 and a 200-day moving average price of $14.68. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.30.

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

Meridian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were paid a $0.125 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.88%. Meridian's payout ratio is 35.21%.

Analyst Upgrades and Downgrades

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

Insider Activity at Meridian

In other news, Director Robert M. Casciato bought 2,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average cost of $13.79 per share, for a total transaction of $27,580.00. Following the completion of the purchase, the director now owns 215,396 shares of the company's stock, valued at $2,970,310.84. This trade represents a 0.94% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders bought 3,208 shares of company stock worth $44,416. 14.38% of the stock is owned by corporate insiders.

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.