Meridian Bank (NASDAQ:MRBK - Get Free Report) Director Kenneth Thomas Warriner bought 1,000 shares of Meridian Bank stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average cost of $18.41 per share, with a total value of $18,410.00. Following the acquisition, the director directly owned 2,000 shares in the company, valued at $36,820. This trade represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Meridian Bank Trading Up 2.4%
Shares of NASDAQ MRBK opened at $18.82 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.98. Meridian Bank has a 52-week low of $11.16 and a 52-week high of $21.67. The firm has a 50 day moving average price of $19.41 and a two-hundred day moving average price of $17.80. The stock has a market cap of $223.58 million, a P/E ratio of 9.09 and a beta of 0.75.
Meridian Bank (NASDAQ:MRBK - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.09). Meridian Bank had a net margin of 11.68% and a return on equity of 12.81%. The firm had revenue of $30.24 million during the quarter, compared to the consensus estimate of $31.79 million. As a group, equities analysts forecast that Meridian Bank will post 2.18 EPS for the current year.
Meridian Bank Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Monday, May 4th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, May 4th. Meridian Bank's dividend payout ratio (DPR) is 27.05%.
Institutional Investors Weigh In On Meridian Bank
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRBK. NewEdge Advisors LLC bought a new stake in Meridian Bank during the 1st quarter valued at $209,000. Goldman Sachs Group Inc. raised its holdings in Meridian Bank by 114.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 83,179 shares of the company's stock valued at $1,198,000 after buying an additional 44,332 shares during the last quarter. Jane Street Group LLC raised its holdings in Meridian Bank by 178.7% during the 1st quarter. Jane Street Group LLC now owns 65,483 shares of the company's stock valued at $943,000 after buying an additional 41,984 shares during the last quarter. Geode Capital Management LLC raised its holdings in Meridian Bank by 110.9% in the 2nd quarter. Geode Capital Management LLC now owns 212,905 shares of the company's stock worth $2,745,000 after purchasing an additional 111,939 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Meridian Bank by 26,887.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,318 shares of the company's stock worth $56,000 after purchasing an additional 4,302 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
MRBK has been the subject of several analyst reports. DA Davidson increased their target price on shares of Meridian Bank from $22.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday. Wall Street Zen downgraded shares of Meridian Bank from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Zacks Research cut shares of Meridian Bank from a "hold" rating to a "strong sell" rating in a research note on Wednesday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Meridian Bank in a research note on Friday, March 27th. Finally, Piper Sandler reiterated an "overweight" rating and set a $22.00 target price (up from $20.00) on shares of Meridian Bank in a research report on Tuesday, February 3rd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Meridian Bank currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.50.
View Our Latest Research Report on Meridian Bank
About Meridian Bank
(
Get Free Report)
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.
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