Connor Clark & Lunn Investment Management Ltd. Has $507,000 Stock Holdings in Meridian Co. (NASDAQ:MRBK)

Connor Clark & Lunn Investment Management Ltd. increased its position in Meridian Co. (NASDAQ:MRBK) by 265.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,959 shares of the company’s stock after buying an additional 26,835 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.33% of Meridian worth $507,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in Meridian in the 4th quarter valued at about $139,000. Barclays PLC lifted its position in Meridian by 10.0% in the 3rd quarter. Barclays PLC now owns 40,406 shares of the company’s stock valued at $511,000 after acquiring an additional 3,675 shares in the last quarter. Geode Capital Management LLC lifted its position in Meridian by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 93,534 shares of the company’s stock valued at $1,183,000 after acquiring an additional 2,838 shares in the last quarter. Finally, Banc Funds Co. LLC lifted its position in Meridian by 4.7% in the 3rd quarter. Banc Funds Co. LLC now owns 829,153 shares of the company’s stock valued at $10,480,000 after acquiring an additional 37,450 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Meridian Price Performance

Shares of NASDAQ MRBK opened at $13.96 on Friday. Meridian Co. has a fifty-two week low of $8.26 and a fifty-two week high of $17.33. The stock has a market cap of $156.91 million, a price-to-earnings ratio of 9.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 0.97. The firm’s 50-day simple moving average is $15.51 and its 200 day simple moving average is $14.41.

Meridian (NASDAQ:MRBK) last announced its quarterly earnings results on Friday, January 24th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.14. Meridian had a net margin of 8.28% and a return on equity of 10.01%. As a group, research analysts anticipate that Meridian Co. will post 2.07 earnings per share for the current fiscal year.

Meridian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.50 annualized dividend and a dividend yield of 3.58%. Meridian’s dividend payout ratio is currently 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.