Meridian Bank (NASDAQ:MRBK) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 3,100 shares, a growth of 138.5% from the July 31st total of 1,300 shares. Based on an average daily trading volume, of 4,900 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.1% of the shares of the stock are short sold.

Shares of MRBK traded down $0.28 during mid-day trading on Wednesday, reaching $17.51. 5,870 shares of the company’s stock were exchanged, compared to its average volume of 6,245. The company has a 50-day simple moving average of $17.58 and a two-hundred day simple moving average of $17.44. Meridian Bank has a 52-week low of $15.26 and a 52-week high of $18.88. The company has a market cap of $113.98 million, a price-to-earnings ratio of 13.27, a PEG ratio of 1.53 and a beta of -0.09.

Meridian Bank (NASDAQ:MRBK) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.05. The company had revenue of $16.85 million for the quarter, compared to analyst estimates of $17.38 million. On average, equities research analysts predict that Meridian Bank will post 1.45 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in MRBK. Maltese Capital Management LLC increased its position in Meridian Bank by 9.4% during the second quarter. Maltese Capital Management LLC now owns 245,976 shares of the company’s stock worth $4,157,000 after buying an additional 21,211 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Meridian Bank by 7.0% in the second quarter. Vanguard Group Inc. now owns 140,136 shares of the company’s stock worth $2,368,000 after acquiring an additional 9,200 shares during the last quarter. BlackRock Inc. lifted 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 valued at $121,000 after acquiring an additional 808 shares in the last quarter. River Oaks Capital LLC lifted 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 valued at $651,000 after acquiring an additional 13,518 shares in the last quarter. Finally, Banc Funds Co. LLC lifted its position in shares of Meridian Bank by 4.0% in the second quarter. Banc Funds Co. LLC now owns 496,588 shares of the company’s stock valued at $8,392,000 after acquiring an additional 18,900 shares in the last quarter. Hedge funds and other institutional investors own 46.02% of the company’s stock.

Several equities research analysts recently commented on MRBK shares. Zacks Investment Research upgraded shares of Meridian Bank from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods upgraded shares of Meridian Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 6th. Finally, ValuEngine cut shares of Meridian Bank from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd.

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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