Meridian Co. (NASDAQ:MRBK) Short Interest Update

Meridian Co. (NASDAQ:MRBK) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 51,400 shares, an increase of 227.4% from the February 13th total of 15,700 shares. Based on an average trading volume of 49,400 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.5% of the shares of the stock are short sold.

Meridian Price Performance

Shares of NASDAQ:MRBK traded up $0.13 during trading on Friday, reaching $13.90. 61,333 shares of the company’s stock traded hands, compared to its average volume of 23,525. The firm has a market cap of $156.24 million, a PE ratio of 9.59 and a beta of 0.87. Meridian has a fifty-two week low of $8.26 and a fifty-two week high of $17.33. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $15.51 and a 200-day simple moving average of $14.29.

Meridian (NASDAQ:MRBK) last announced its earnings results on Friday, January 24th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.14. Meridian had a return on equity of 10.01% and a net margin of 8.28%. As a group, analysts predict that Meridian will post 2.07 earnings per share for the current year.

Meridian Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.60%. Meridian’s dividend payout ratio is currently 34.48%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Truffle Hound Capital LLC acquired a new stake in Meridian in the 4th quarter worth about $2,742,000. Millennium Management LLC boosted its stake in shares of Meridian by 410.2% in the fourth quarter. Millennium Management LLC now owns 52,244 shares of the company’s stock worth $716,000 after acquiring an additional 42,004 shares during the last quarter. Banc Funds Co. LLC increased its position in shares of Meridian by 4.7% during the third quarter. Banc Funds Co. LLC now owns 829,153 shares of the company’s stock worth $10,480,000 after purchasing an additional 37,450 shares in the last quarter. Mendon Capital Advisors Corp increased its position in shares of Meridian by 161.4% during the fourth quarter. Mendon Capital Advisors Corp now owns 48,587 shares of the company’s stock worth $666,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new position in Meridian in the 4th quarter valued at $395,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

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.