Connor Clark & Lunn Investment Management Ltd. Buys 26,835 Shares of Meridian Co. (NASDAQ:MRBK)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Meridian Co. (NASDAQ:MRBK) by 265.1% during the fourth quarter, HoldingsChannel reports. The firm owned 36,959 shares of the company’s stock after acquiring an additional 26,835 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Meridian were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of MRBK. Banc Funds Co. LLC raised its holdings in shares of Meridian by 4.7% in the 3rd quarter. Banc Funds Co. LLC now owns 829,153 shares of the company’s stock worth $10,480,000 after purchasing an additional 37,450 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Meridian in the 4th quarter worth approximately $139,000. Barclays PLC raised its holdings in shares of Meridian by 10.0% in the 3rd quarter. Barclays PLC now owns 40,406 shares of the company’s stock worth $511,000 after purchasing an additional 3,675 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Meridian by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 93,534 shares of the company’s stock worth $1,183,000 after purchasing an additional 2,838 shares during the period. Institutional investors own 58.56% of the company’s stock.

Meridian Stock Down 1.3 %

Meridian stock opened at $13.96 on Friday. Meridian Co. has a 1-year low of $8.26 and a 1-year high of $17.33. The firm has a market capitalization of $156.91 million, a price-to-earnings ratio of 9.63 and a beta of 0.87. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $15.51 and a 200 day simple moving average of $14.41.

Meridian (NASDAQ:MRBK) last released its quarterly earnings data on Friday, January 24th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. Meridian had a net margin of 8.28% and a return on equity of 10.01%. On average, analysts predict that Meridian Co. will post 2.07 earnings per share for the current year.

Meridian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $0.125 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.50 dividend on an annualized basis and a yield of 3.58%. Meridian’s dividend payout ratio is 34.48%.

Meridian Company Profile

Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Florida, and Maryland. The company offers various deposit products, such as demand non-interest bearing, demand interest bearing, savings accounts, money market accounts, and time deposits.