Maltese Capital Management LLC Has $607,000 Stake in Meridian Bank $MRBK

Maltese Capital Management LLC increased its stake in shares of Meridian Bank (NASDAQ:MRBK) by 333.2% during the fourth quarter, HoldingsChannel reports. The fund owned 34,523 shares of the company’s stock after buying an additional 26,554 shares during the period. Maltese Capital Management LLC’s holdings in Meridian Bank were worth $607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRBK. Segall Bryant & Hamill LLC acquired a new stake in shares of Meridian Bank during the third quarter worth $1,996,000. Geode Capital Management LLC raised its holdings in shares of Meridian Bank by 110.9% during the second quarter. Geode Capital Management LLC now owns 212,905 shares of the company’s stock worth $2,745,000 after acquiring an additional 111,939 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Meridian Bank by 99.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 171,765 shares of the company’s stock worth $2,712,000 after acquiring an additional 85,562 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Meridian Bank during the third quarter worth $1,308,000. Finally, Fourthstone LLC raised its holdings in shares of Meridian Bank by 4.6% during the fourth quarter. Fourthstone LLC now owns 1,121,775 shares of the company’s stock worth $19,721,000 after acquiring an additional 49,561 shares during the period. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Meridian Bank Stock Performance

Shares of MRBK opened at $19.74 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.96. Meridian Bank has a one year low of $11.16 and a one year high of $21.67. The firm has a 50-day moving average of $18.81 and a 200-day moving average of $18.56. The company has a market cap of $234.71 million, a PE ratio of 9.54 and a beta of 0.67.

Meridian Bank (NASDAQ:MRBK) last issued its earnings results on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.09). Meridian Bank had a return on equity of 12.61% and a net margin of 11.68%.The business had revenue of $30.24 million for the quarter, compared to the consensus estimate of $31.79 million. As a group, equities analysts forecast that Meridian Bank will post 1.85 earnings per share for the current year.

Meridian Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, May 4th. Meridian Bank’s payout ratio is currently 27.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Piper Sandler set a $21.00 price objective on shares of Meridian Bank and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of Meridian Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 5th. Zacks Research lowered shares of Meridian Bank from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Wall Street Zen lowered shares of Meridian Bank from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, DA Davidson lifted their price target on shares of Meridian Bank from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Meridian Bank Company Profile

Meridian Bank, a Pennsylvania-chartered institution founded in 1993 and headquartered in Philadelphia, operates as a full-service community bank serving the Greater Philadelphia region. As a wholly owned subsidiary of Meridian Bancorp, Inc (NASDAQ: MRBK), the bank maintains a network of branch locations complemented by online and mobile platforms to meet the evolving needs of individual and business customers.

On the consumer side, Meridian Bank offers a comprehensive suite of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside personal lending solutions such as home equity lines of credit, residential mortgage loans and unsecured consumer loans.