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

Wick Capital Partners LLC trimmed its position in Meridian Bank (NASDAQ:MRBK) by 96.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,480 shares of the company’s stock after selling 140,036 shares during the quarter. Wick Capital Partners LLC’s holdings in Meridian Bank were worth $79,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of Meridian Bank by 24.2% in the fourth quarter. Invesco Ltd. now owns 16,153 shares of the company’s stock valued at $284,000 after acquiring an additional 3,152 shares during the period. Occudo Quantitative Strategies LP bought a new position in Meridian Bank during the fourth quarter worth about $234,000. Millennium Management LLC raised its stake in Meridian Bank by 8.7% in the 4th quarter. Millennium Management LLC now owns 25,530 shares of the company’s stock worth $449,000 after purchasing an additional 2,051 shares in the last quarter. Man Group plc raised its stake in Meridian Bank by 93.8% in the 4th quarter. Man Group plc now owns 25,860 shares of the company’s stock worth $455,000 after purchasing an additional 12,516 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in Meridian Bank in the 4th quarter worth about $181,000. Institutional investors own 58.56% of the company’s stock.

Meridian Bank Price Performance

Shares of NASDAQ MRBK opened at $19.25 on Friday. The stock has a market capitalization of $228.88 million, a P/E ratio of 9.30 and a beta of 0.67. The stock’s fifty day moving average is $18.78 and its 200 day moving average is $18.64. Meridian Bank has a 52 week low of $11.16 and a 52 week high of $21.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.97.

Meridian Bank (NASDAQ:MRBK) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.09). The firm had revenue of $30.24 million for the quarter, compared to the consensus estimate of $31.79 million. Meridian Bank had a return on equity of 12.61% and a net margin of 11.68%. Sell-side analysts forecast that Meridian Bank will post 1.85 earnings per share for the current fiscal year.

Meridian Bank Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MRBK. Zacks Research lowered shares of Meridian Bank from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Wall Street Zen cut shares of Meridian Bank from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. DA Davidson lifted their price target on shares of Meridian Bank from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Piper Sandler set a $21.00 price target on Meridian Bank and gave the company an “overweight” rating in a research note on Tuesday, May 5th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Meridian Bank currently has an average rating of “Moderate Buy” and an average target price of $22.00.

About Meridian Bank

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.