Meridian Bank (NASDAQ:MRBK) Shares Sold by EJF Capital LLC

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EJF Capital LLC cut its stake in Meridian Bank (NASDAQ:MRBK) by 18.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 296,426 shares of the company’s stock after selling 67,179 shares during the period. EJF Capital LLC owned approximately 4.63% of Meridian Bank worth $5,010,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MRBK. Banc Funds Co. LLC boosted its position in shares of Meridian Bank by 5.8% in the first quarter. Banc Funds Co. LLC now owns 477,688 shares of the company’s stock worth $8,617,000 after acquiring an additional 26,172 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its position in shares of Meridian Bank by 18.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 21,500 shares of the company’s stock worth $388,000 after acquiring an additional 3,400 shares during the last quarter. Context BH Capital Management LP boosted its position in shares of Meridian Bank by 1.0% in the second quarter. Context BH Capital Management LP now owns 61,420 shares of the company’s stock worth $1,038,000 after acquiring an additional 600 shares during the last quarter. River Oaks Capital LLC boosted its position in shares of Meridian Bank by 54.1% in the second quarter. River Oaks Capital LLC now owns 38,518 shares of the company’s stock worth $651,000 after acquiring an additional 13,518 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Meridian Bank by 12.7% in the second quarter. BlackRock Inc. now owns 7,149 shares of the company’s stock worth $121,000 after acquiring an additional 808 shares during the last quarter. 46.02% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on MRBK. ValuEngine cut shares of Meridian Bank from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research raised shares of Meridian Bank from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods raised shares of Meridian Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 6th.

MRBK stock traded down $0.09 during midday trading on Thursday, reaching $17.73. 100 shares of the company’s stock traded hands, compared to its average volume of 6,216. The company has a market capitalization of $113.60 million, a P/E ratio of 13.43, a PEG ratio of 1.53 and a beta of -0.09. Meridian Bank has a fifty-two week low of $15.26 and a fifty-two week high of $18.88. The business has a 50-day moving average price of $17.69 and a two-hundred day moving average price of $17.46.

Meridian Bank (NASDAQ:MRBK) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $16.85 million for the quarter, compared to analyst estimates of $17.38 million. Equities analysts expect that Meridian Bank will post 1.45 earnings per share for the current year.

About Meridian Bank

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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Institutional Ownership by Quarter for Meridian Bank (NASDAQ:MRBK)

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