Segall Bryant & Hamill LLC Sells 47,034 Shares of Meridian Bank $MRBK

Segall Bryant & Hamill LLC lessened its stake in shares of Meridian Bank (NASDAQ:MRBK) by 37.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,390 shares of the company’s stock after selling 47,034 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.67% of Meridian Bank worth $1,505,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MRBK shares. Wall Street Zen downgraded shares of Meridian Bank from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings cut Meridian Bank from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 20th. Zacks Research downgraded Meridian Bank from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Piper Sandler set a $21.00 price target on Meridian Bank and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, DA Davidson set a $23.00 price objective on Meridian Bank in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Meridian Bank Trading Up 0.1%

Meridian Bank stock opened at $19.84 on Wednesday. Meridian Bank has a 12 month low of $13.81 and a 12 month high of $21.67. The business’s fifty day simple moving average is $19.54 and its two-hundred day simple moving average is $19.24. The company has a market capitalization of $235.90 million, a price-to-earnings ratio of 9.63 and a beta of 0.66. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.25.

Meridian Bank (NASDAQ:MRBK) last issued its earnings results on Thursday, July 30th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). The firm had revenue of $32.67 million during the quarter, compared to the consensus estimate of $34.31 million. Meridian Bank had a return on equity of 12.43% and a net margin of 11.89%. As a group, equities analysts predict that Meridian Bank will post 1.95 earnings per share for the current fiscal year.

Meridian Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, August 10th. Meridian Bank’s dividend payout ratio is presently 27.18%.

Meridian Bank Company 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.