Truffle Hound Capital LLC Purchases Shares of 200,000 Meridian Co. (NASDAQ:MRBK)

Truffle Hound Capital LLC bought a new position in shares of Meridian Co. (NASDAQ:MRBK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 200,000 shares of the company’s stock, valued at approximately $2,742,000. Meridian makes up about 1.0% of Truffle Hound Capital LLC’s investment portfolio, making the stock its 28th largest holding. Truffle Hound Capital LLC owned about 1.78% of Meridian at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRBK. Banc Funds Co. LLC increased its position in shares of Meridian by 4.7% during the third quarter. Banc Funds Co. LLC now owns 829,153 shares of the company’s stock worth $10,480,000 after purchasing an additional 37,450 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Meridian by 265.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,959 shares of the company’s stock worth $507,000 after purchasing an additional 26,835 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Meridian during the fourth quarter worth about $139,000. Barclays PLC increased its position in shares of Meridian by 10.0% during the third quarter. Barclays PLC now owns 40,406 shares of the company’s stock worth $511,000 after purchasing an additional 3,675 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Meridian by 3.1% during the third quarter. Geode Capital Management LLC now owns 93,534 shares of the company’s stock worth $1,183,000 after purchasing an additional 2,838 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Meridian Stock Performance

NASDAQ MRBK opened at $13.96 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.30. Meridian Co. has a 52-week low of $8.26 and a 52-week high of $17.33. The business’s 50-day moving average price is $15.51 and its 200 day moving average price is $14.39. The firm has a market cap of $156.91 million, a P/E ratio of 9.63 and a beta of 0.87.

Meridian (NASDAQ:MRBK) last released its quarterly earnings results on Friday, January 24th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. Meridian had a return on equity of 10.01% and a net margin of 8.28%. On average, equities research analysts expect that Meridian Co. will post 2.07 earnings per share for the current year.

Meridian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend was Monday, February 10th. Meridian’s dividend payout ratio is currently 34.48%.

Meridian Company Profile

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.