Meridian Bank (NASDAQ:MRBK) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Meridian Bank (NASDAQ:MRBK) from a hold rating to a sell rating in a research note released on Thursday, ValuEngine reports.

Separately, Zacks Investment Research lowered shares of Meridian Bank from a buy rating to a hold rating in a report on Saturday, March 28th.

NASDAQ MRBK traded up $0.41 on Thursday, hitting $12.81. The company had a trading volume of 5,100 shares, compared to its average volume of 13,659. The company has a market capitalization of $75.57 million, a PE ratio of 7.86 and a beta of 0.62. The company’s fifty day moving average price is $16.82 and its 200-day moving average price is $18.40. Meridian Bank has a 12-month low of $10.68 and a 12-month high of $20.89.

Meridian Bank (NASDAQ:MRBK) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.36 by $0.13. The company had revenue of $18.57 million during the quarter. As a group, equities research analysts predict that Meridian Bank will post 1.61 EPS for the current fiscal year.

A hedge fund recently raised its stake in Meridian Bank stock. Ancora Advisors LLC increased its position in shares of Meridian Bank (NASDAQ:MRBK) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,309 shares of the company’s stock after acquiring an additional 684 shares during the quarter. Ancora Advisors LLC owned approximately 0.36% of Meridian Bank worth $471,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 45.25% of the company’s stock.

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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