Meridian Co. (NASDAQ:MRBK) is Fourthstone LLC’s 8th Largest Position

Fourthstone LLC lowered its position in Meridian Co. (NASDAQ:MRBK) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,116,763 shares of the company’s stock after selling 2,260 shares during the quarter. Meridian makes up approximately 3.1% of Fourthstone LLC’s portfolio, making the stock its 8th biggest position. Fourthstone LLC owned approximately 0.10% of Meridian worth $14,116,000 at the end of the most recent quarter.

Separately, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Meridian during the third quarter worth $128,000. Institutional investors own 58.56% of the company’s stock.

Meridian Stock Performance

Shares of NASDAQ MRBK traded up $0.08 during mid-day trading on Thursday, hitting $16.73. The company had a trading volume of 11,455 shares, compared to its average volume of 13,942. The firm’s 50 day simple moving average is $13.57 and its two-hundred day simple moving average is $11.76. 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 stock has a market cap of $188.05 million, a price-to-earnings ratio of 16.56 and a beta of 0.74. Meridian Co. has a 12 month low of $8.26 and a 12 month high of $16.93.

Meridian (NASDAQ:MRBK) last issued its earnings results on Thursday, October 24th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. Meridian had a return on equity of 6.99% and a net margin of 6.00%. The business had revenue of $51.15 million for the quarter, compared to analysts’ expectations of $26.57 million. As a group, equities research analysts forecast that Meridian Co. will post 1.29 earnings per share for the current year.

Meridian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.50 annualized dividend and a dividend yield of 2.99%. Meridian’s dividend payout ratio is presently 49.51%.

Analyst Ratings Changes

MRBK has been the topic of several research reports. DA Davidson upped their target price on Meridian from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Piper Sandler increased their target price on Meridian from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th.

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.