River Oaks Capital LLC Cuts Holdings in Meridian Co. (NASDAQ:MRBK)

River Oaks Capital LLC trimmed its position in Meridian Co. (NASDAQ:MRBKGet Rating) by 0.5% during the first quarter, HoldingsChannel.com reports. The firm owned 121,409 shares of the company’s stock after selling 588 shares during the quarter. Meridian accounts for approximately 3.8% of River Oaks Capital LLC’s investment portfolio, making the stock its 9th biggest holding. River Oaks Capital LLC’s holdings in Meridian were worth $3,896,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Cornerstone Advisory LLC bought a new stake in shares of Meridian in the fourth quarter valued at about $116,000. Stillwater Capital Advisors LLC bought a new stake in Meridian during the fourth quarter worth about $206,000. Great Valley Advisor Group Inc. bought a new stake in Meridian during the fourth quarter worth about $233,000. LSV Asset Management bought a new stake in Meridian during the fourth quarter worth about $550,000. Finally, Globeflex Capital L P raised its holdings in Meridian by 27.0% during the fourth quarter. Globeflex Capital L P now owns 16,052 shares of the company’s stock worth $590,000 after acquiring an additional 3,410 shares in the last quarter. Institutional investors own 57.00% of the company’s stock.

NASDAQ:MRBK traded down $0.25 on Monday, hitting $30.05. The company’s stock had a trading volume of 3,900 shares, compared to its average volume of 10,433. The company has a current ratio of 0.98, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average of $30.89 and a two-hundred day moving average of $33.41. The firm has a market capitalization of $183.73 million, a P/E ratio of 6.05 and a beta of 0.50. Meridian Co. has a one year low of $24.00 and a one year high of $39.78.

Meridian (NASDAQ:MRBKGet Rating) last issued its quarterly earnings results on Monday, May 2nd. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.11. The business had revenue of $29.14 million for the quarter, compared to the consensus estimate of $28.21 million. Meridian had a return on equity of 19.52% and a net margin of 21.19%. As a group, sell-side analysts anticipate that Meridian Co. will post 3.71 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 23rd. Stockholders of record on Monday, May 16th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Friday, May 13th. Meridian’s payout ratio is 16.10%.

About Meridian (Get Rating)

Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, 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.

See Also

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Institutional Ownership by Quarter for Meridian (NASDAQ:MRBK)

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