MERIDIAN BK PAO/SH (MRBK) Stock Rating Lowered by ValuEngine

MERIDIAN BK PAO/SH (NASDAQ:MRBK) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Separately, Zacks Investment Research lowered shares of MERIDIAN BK PAO/SH from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 4th.

MRBK stock traded down $0.05 on Tuesday, hitting $16.85. 681 shares of the company’s stock traded hands, compared to its average volume of 3,905. MERIDIAN BK PAO/SH has a 1-year low of $15.26 and a 1-year high of $21.37. The firm has a market cap of $108.03 million and a PE ratio of 24.42.

In other news, CEO Christopher J. Annas purchased 4,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were acquired at an average price of $17.41 per share, for a total transaction of $69,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert M. Casciato purchased 3,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were purchased at an average price of $17.40 per share, for a total transaction of $52,200.00. The disclosure for this purchase can be found here. Insiders have bought 8,000 shares of company stock worth $138,790 in the last 90 days.

An institutional investor recently raised its position in MERIDIAN BK PAO/SH stock. First Manhattan Co. increased its position in shares of MERIDIAN BK PAO/SH (NASDAQ:MRBK) by 14.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,527 shares of the company’s stock after acquiring an additional 20,200 shares during the quarter. First Manhattan Co. owned 2.43% of MERIDIAN BK PAO/SH worth $2,829,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 46.31% of the company’s stock.

MERIDIAN BK PAO/SH Company Profile

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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