Wick Capital Partners LLC Sells 140,036 Shares of Meridian Bank $MRBK

Wick Capital Partners LLC lowered its stake in shares of Meridian Bank (NASDAQ:MRBK) by 96.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,480 shares of the company’s stock after selling 140,036 shares during the period. Wick Capital Partners LLC’s holdings in Meridian Bank were worth $79,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MRBK. JPMorgan Chase & Co. increased its holdings in Meridian Bank by 26,887.5% during the second quarter. JPMorgan Chase & Co. now owns 4,318 shares of the company’s stock worth $56,000 after buying an additional 4,302 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Meridian Bank in the second quarter valued at $64,000. BNP Paribas Financial Markets grew its position in shares of Meridian Bank by 125.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,183 shares of the company’s stock valued at $66,000 after acquiring an additional 2,331 shares during the period. Bank of America Corp DE grew its position in shares of Meridian Bank by 166.6% in the 2nd quarter. Bank of America Corp DE now owns 6,103 shares of the company’s stock valued at $79,000 after acquiring an additional 3,814 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in shares of Meridian Bank during the 2nd quarter worth about $106,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Meridian Bank Stock Performance

NASDAQ MRBK opened at $19.25 on Friday. The firm has a 50-day moving average of $18.78 and a 200-day moving average of $18.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a market cap of $228.88 million, a PE ratio of 9.30 and a beta of 0.67. Meridian Bank has a 52-week low of $11.16 and a 52-week high of $21.67.

Meridian Bank (NASDAQ:MRBK) last announced its earnings results on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.09). Meridian Bank had a return on equity of 12.61% and a net margin of 11.68%.The company had revenue of $30.24 million for the quarter, compared to the consensus estimate of $31.79 million. On average, sell-side analysts anticipate that Meridian Bank will post 1.85 EPS for the current year.

Meridian Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, May 4th. Meridian Bank’s payout ratio is currently 27.05%.

Analyst Ratings Changes

Several brokerages recently issued reports on MRBK. Piper Sandler set a $21.00 target price on shares of Meridian Bank and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Wall Street Zen downgraded Meridian Bank from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Zacks Research lowered Meridian Bank from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. DA Davidson raised their price objective on Meridian Bank from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings raised Meridian Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Meridian Bank Profile

Meridian Bank, a Pennsylvania-chartered institution founded in 1993 and headquartered in Philadelphia, operates as a full-service community bank serving the Greater Philadelphia region. As a wholly owned subsidiary of Meridian Bancorp, Inc (NASDAQ: MRBK), the bank maintains a network of branch locations complemented by online and mobile platforms to meet the evolving needs of individual and business customers.

On the consumer side, Meridian Bank offers a comprehensive suite of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside personal lending solutions such as home equity lines of credit, residential mortgage loans and unsecured consumer loans.