Kenneth Thomas Warriner Purchases 1,000 Shares of Meridian Bank (NASDAQ:MRBK) Stock

Meridian Bank (NASDAQ:MRBK) Director Kenneth Thomas Warriner purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $18.00 per share, with a total value of $18,000.00. Following the completion of the transaction, the director owned 3,000 shares in the company, valued at $54,000. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kenneth Thomas Warriner also recently made the following trade(s):

• On Thursday, April 30th, Kenneth Thomas Warriner purchased 1,000 shares of Meridian Bank stock. The stock was bought at an average price of $18.41 per share, with a total value of $18,410.00.

Meridian Bank Trading Down 0.5%

NASDAQ:MRBK opened at $19.95 on Friday. The business’s 50-day moving average is $18.71 and its two-hundred day moving average is $18.76. 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 12 month low of $12.20 and a 12 month high of $21.67. The firm has a market capitalization of $237.21 million, a PE ratio of 9.64 and a beta of 0.67.

Meridian Bank (NASDAQ:MRBK) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). Meridian Bank had a return on equity of 12.61% and a net margin of 11.68%.The company had revenue of $30.24 million for the quarter, compared to analyst estimates of $31.79 million. Research analysts predict that Meridian Bank will post 1.93 earnings per share for the current fiscal year.

Meridian Bank Dividend Announcement

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

Institutional Investors Weigh In On Meridian Bank

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake in shares of Meridian Bank by 125.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,183 shares of the company’s stock valued at $66,000 after purchasing an additional 2,331 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Meridian Bank by 26,887.5% in the second quarter. JPMorgan Chase & Co. now owns 4,318 shares of the company’s stock worth $56,000 after purchasing an additional 4,302 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Meridian Bank in the second quarter valued at about $64,000. Bank of America Corp DE increased its holdings in Meridian Bank by 166.6% in the second quarter. Bank of America Corp DE now owns 6,103 shares of the company’s stock valued at $79,000 after buying an additional 3,814 shares during the last quarter. Finally, Maltese Capital Management LLC acquired a new stake in Meridian Bank during the third quarter valued at approximately $126,000. Institutional investors own 58.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MRBK shares. DA Davidson increased their price objective on shares of Meridian Bank from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Zacks Research cut shares of Meridian Bank from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Piper Sandler set a $21.00 target price on shares of Meridian Bank and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Weiss Ratings raised shares of Meridian Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 5th. Finally, Wall Street Zen downgraded shares of Meridian Bank from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.