Segall Bryant & Hamill LLC Sells 47,034 Shares of Meridian Bank $MRBK

Segall Bryant & Hamill LLC trimmed its stake in shares of Meridian Bank (NASDAQ:MRBK) by 37.2% in the 1st quarter, Holdings Channel reports. The firm owned 79,390 shares of the company’s stock after selling 47,034 shares during the period. Segall Bryant & Hamill LLC’s holdings in Meridian Bank were worth $1,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MRBK. JPMorgan Chase & Co. lifted its position in Meridian Bank by 26,887.5% during the second quarter. JPMorgan Chase & Co. now owns 4,318 shares of the company’s stock valued at $56,000 after purchasing an additional 4,302 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Meridian Bank in the 2nd quarter worth approximately $64,000. BNP Paribas Financial Markets grew its position in Meridian Bank by 125.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,183 shares of the company’s stock worth $66,000 after purchasing an additional 2,331 shares during the period. Bank of America Corp DE raised its stake in Meridian Bank by 166.6% during the 2nd 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, New York State Common Retirement Fund purchased a new stake in Meridian Bank during the 2nd quarter valued at $106,000. Institutional investors own 58.56% of the company’s stock.

Wall Street Analyst Weigh In

MRBK has been the topic of several research analyst reports. Weiss Ratings cut Meridian Bank from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 20th. Wall Street Zen lowered Meridian Bank from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Zacks Research cut Meridian Bank from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. DA Davidson set a $23.00 target price on Meridian Bank in a report on Tuesday. Finally, Piper Sandler set a $21.00 target price on Meridian Bank and gave the company an “overweight” rating in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Meridian Bank Stock Performance

Shares of NASDAQ MRBK opened at $19.84 on Wednesday. The firm has a 50 day moving average of $19.54 and a 200 day moving average of $19.24. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $235.90 million, a price-to-earnings ratio of 9.63 and a beta of 0.66. Meridian Bank has a 12-month low of $13.81 and a 12-month high of $21.67.

Meridian Bank (NASDAQ:MRBK) last announced its earnings results on Thursday, July 30th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Meridian Bank had a net margin of 11.89% and a return on equity of 12.43%. The business had revenue of $32.67 million for the quarter, compared to analysts’ expectations of $34.31 million. On average, research analysts anticipate that Meridian Bank will post 1.95 earnings per share for the current year.

Meridian Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 10th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.8%. Meridian Bank’s payout ratio is presently 27.18%.

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.