Dimensional Fund Advisors LP boosted its holdings in Meridian Co. (NASDAQ:MRBK – Free Report) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,249 shares of the company’s stock after purchasing an additional 10,514 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.53% of Meridian worth $1,801,000 at the end of the most recent quarter.
Separately, Acadian Asset Management LLC boosted its holdings in Meridian by 4.6% in the first quarter. Acadian Asset Management LLC now owns 54,409 shares of the company’s stock worth $538,000 after purchasing an additional 2,396 shares during the period. 58.56% of the stock is owned by institutional investors and hedge funds.
Meridian Stock Performance
Meridian stock opened at $12.92 on Friday. The company has a market cap of $144.57 million, a PE ratio of 13.78 and a beta of 0.75. The company has a fifty day moving average price of $11.71 and a two-hundred day moving average price of $10.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.95. Meridian Co. has a 12 month low of $8.26 and a 12 month high of $14.24.
Meridian Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Monday, August 12th. Meridian’s payout ratio is 53.19%.
Analyst Ratings Changes
Separately, Piper Sandler lifted their price objective on shares of Meridian from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th.
Check Out Our Latest Stock Analysis on Meridian
About Meridian
Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Florida, and Maryland. The company offers various deposit products, such as demand non-interest bearing, demand interest bearing, savings accounts, money market accounts, and time deposits.
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