MERIDIAN BK PAO/SH (MRBK) Reaches New 1-Year Low at $15.26

Shares of MERIDIAN BK PAO/SH (NASDAQ:MRBK) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $15.26 and last traded at $15.26, with a volume of 95 shares. The stock had previously closed at $16.72.

Separately, Zacks Investment Research raised MERIDIAN BK PAO/SH from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 4th.

The company has a market cap of $107.07 million and a price-to-earnings ratio of 23.35.



In other news, Director Robert M. Casciato purchased 3,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were bought at an average cost of $17.40 per share, for a total transaction of $52,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher J. Annas purchased 4,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were purchased at an average price of $17.41 per share, for a total transaction of $69,640.00. The disclosure for this purchase can be found here.

An institutional investor recently raised its position in MERIDIAN BK PAO/SH stock. First Manhattan Co. grew its position in shares of MERIDIAN BK PAO/SH (NASDAQ:MRBK) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 155,527 shares of the company’s stock after purchasing an additional 20,200 shares during the quarter. First Manhattan Co. owned 2.43% of MERIDIAN BK PAO/SH worth $2,829,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 46.31% of the company’s stock.

MERIDIAN BK PAO/SH Company Profile (NASDAQ:MRBK)

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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