Maltese Capital Management LLC Sells 49,946 Shares of MERIDIAN BK PAO/SH (MRBK)
Maltese Capital Management LLC lowered its position in shares of MERIDIAN BK PAO/SH (NASDAQ:MRBK) by 16.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 257,854 shares of the company’s stock after selling 49,946 shares during the quarter. Maltese Capital Management LLC owned 4.04% of MERIDIAN BK PAO/SH worth $4,690,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new position in MERIDIAN BK PAO/SH during the 1st quarter worth approximately $359,000. Sei Investments Co. acquired a new stake in shares of MERIDIAN BK PAO/SH in the 1st quarter valued at approximately $827,000. Finally, First Manhattan Co. boosted its holdings in shares of MERIDIAN BK PAO/SH by 14.9% in the 2nd quarter. First Manhattan Co. now owns 155,527 shares of the company’s stock valued at $2,829,000 after buying an additional 20,200 shares during the last quarter. 44.82% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on the company. Zacks Investment Research downgraded MERIDIAN BK PAO/SH from a “hold” rating to a “sell” rating in a report on Saturday, May 5th. DA Davidson cut their price objective on MERIDIAN BK PAO/SH from $22.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, May 3rd.
MERIDIAN BK PAO/SH Profile
Meridian Bank 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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