Meridian Bank (NASDAQ:MRBK) Shares Sold by EJF Capital LLC

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EJF Capital LLC decreased its position in shares of Meridian Bank (NASDAQ:MRBK) by 18.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 296,426 shares of the company’s stock after selling 67,179 shares during the quarter. EJF Capital LLC’s holdings in Meridian Bank were worth $5,010,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Banc Funds Co. LLC lifted its holdings in Meridian Bank by 5.8% in the first quarter. Banc Funds Co. LLC now owns 477,688 shares of the company’s stock worth $8,617,000 after purchasing an additional 26,172 shares during the period. River Oaks Capital LLC lifted its holdings in Meridian Bank by 54.1% in the second quarter. River Oaks Capital LLC now owns 38,518 shares of the company’s stock worth $651,000 after purchasing an additional 13,518 shares during the period. Vanguard Group Inc. lifted its holdings in Meridian Bank by 7.0% in the second quarter. Vanguard Group Inc. now owns 140,136 shares of the company’s stock worth $2,368,000 after purchasing an additional 9,200 shares during the period. Punch & Associates Investment Management Inc. lifted its holdings in Meridian Bank by 18.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 21,500 shares of the company’s stock worth $388,000 after purchasing an additional 3,400 shares during the period. Finally, BlackRock Inc. lifted its holdings in Meridian Bank by 12.7% in the second quarter. BlackRock Inc. now owns 7,149 shares of the company’s stock worth $121,000 after purchasing an additional 808 shares during the period. 46.02% of the stock is owned by institutional investors.

MRBK stock traded down $0.09 during trading on Thursday, hitting $17.73. The company had a trading volume of 100 shares, compared to its average volume of 6,216. The firm has a market capitalization of $113.60 million, a price-to-earnings ratio of 13.43, a P/E/G ratio of 1.53 and a beta of -0.09. The business has a 50 day moving average of $17.69 and a 200 day moving average of $17.46. Meridian Bank has a fifty-two week low of $15.26 and a fifty-two week high of $18.88.

Meridian Bank (NASDAQ:MRBK) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.05. The company had revenue of $16.85 million during the quarter, compared to analyst estimates of $17.38 million. As a group, equities analysts predict that Meridian Bank will post 1.45 EPS for the current fiscal year.

Several equities research analysts recently weighed in on MRBK shares. Zacks Investment Research raised shares of Meridian Bank from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Tuesday, August 6th. Keefe, Bruyette & Woods raised shares of Meridian Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 6th. Finally, ValuEngine downgraded shares of Meridian Bank from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd.

Meridian Bank Profile

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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Institutional Ownership by Quarter for Meridian Bank (NASDAQ:MRBK)

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