Maltese Capital Management LLC cut its stake in MERIDIAN BK PAO/SH (NASDAQ:MRBK) by 17.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 212,854 shares of the company’s stock after selling 45,000 shares during the quarter. Maltese Capital Management LLC’s holdings in MERIDIAN BK PAO/SH were worth $3,661,000 at the end of the most recent reporting period.
A number of brokerages have issued reports on MRBK. Zacks Investment Research raised shares of MERIDIAN BK PAO/SH from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a report on Tuesday, November 6th. ValuEngine lowered shares of MERIDIAN BK PAO/SH from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th.
MRBK stock opened at $17.29 on Wednesday. The company has a market capitalization of $111.03 million and a PE ratio of 25.06. MERIDIAN BK PAO/SH has a 12 month low of $15.26 and a 12 month high of $20.79.
About MERIDIAN BK PAO/SH
Meridian Corporation operates as the bank holding for Meridian Bank that provides commercial banking products and services for retail and commercial customers primarily in southeastern Pennsylvania, Delaware, and south New Jersey. It offers non-interest bearing deposits and time deposits, as well as interest checking, money market, and savings accounts; and commercial and industrial loans, commercial real estate loans, and consumer and home equity loans, as well as homeowner mortgages.
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