Meridian Bank (NASDAQ:MRBK) Short Interest Update

Meridian Bank (NASDAQ:MRBK) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 1,500 shares, a drop of 44.4% from the May 30th total of 2,700 shares. Based on an average trading volume of 2,500 shares, the short-interest ratio is currently 0.6 days. Approximately 0.0% of the company’s stock are sold short.

An institutional investor recently raised its position in Meridian Bank stock. Punch & Associates Investment Management Inc. increased its stake in shares of Meridian Bank (NASDAQ:MRBK) by 18.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 21,500 shares of the company’s stock after buying an additional 3,400 shares during the period. Punch & Associates Investment Management Inc. owned 0.34% of Meridian Bank worth $388,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 45.96% of the company’s stock.

Shares of NASDAQ:MRBK traded down $0.24 during midday trading on Friday, reaching $16.76. 500 shares of the company were exchanged, compared to its average volume of 1,319. Meridian Bank has a fifty-two week low of $15.26 and a fifty-two week high of $18.88. The stock’s fifty day moving average price is $16.93. The firm has a market cap of $108.34 million, a price-to-earnings ratio of 12.73, a PEG ratio of 1.51 and a beta of -0.07.

Meridian Bank (NASDAQ:MRBK) last issued its quarterly earnings results on Thursday, May 23rd. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. The business had revenue of $14.92 million during the quarter, compared to analyst estimates of $15.08 million. As a group, sell-side analysts predict that Meridian Bank will post 1.4 earnings per share for the current year.

A number of brokerages recently commented on MRBK. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.

Meridian Bank Company 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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