Meridian Wealth Partners LLC Sells 1,114 Shares of Meridian Co. (NASDAQ:MRBK)

Meridian Wealth Partners LLC cut its stake in shares of Meridian Co. (NASDAQ:MRBK) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,255 shares of the company’s stock after selling 1,114 shares during the quarter. Meridian accounts for about 0.5% of Meridian Wealth Partners LLC’s holdings, making the stock its 24th biggest holding. Meridian Wealth Partners LLC owned approximately 1.70% of Meridian worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Piper Sandler downgraded Meridian from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $13.00 in a research report on Monday, January 29th. TheStreet cut shares of Meridian from a “b-” rating to a “c” rating in a research note on Friday, January 26th.

Meridian Trading Up 0.9 %

Shares of NASDAQ:MRBK traded up $0.08 on Friday, reaching $9.10. 13,070 shares of the company traded hands, compared to its average volume of 8,536. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.32. The business’s 50-day simple moving average is $9.47 and its 200 day simple moving average is $11.12. The stock has a market capitalization of $101.83 million, a P/E ratio of 8.67 and a beta of 0.68. Meridian Co. has a 52 week low of $7.80 and a 52 week high of $14.24.

Meridian (NASDAQ:MRBK) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Meridian had a net margin of 7.86% and a return on equity of 8.54%. The business had revenue of $45.20 million during the quarter, compared to analyst estimates of $23.68 million. As a group, equities analysts anticipate that Meridian Co. will post 1.42 EPS for the current fiscal year.

Meridian 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.