Meridian Bank (NASDAQ:MRBK) Short Interest Up 138.5% in August
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.
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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