Zacks Investment Research upgraded shares of Meridian Bank (NASDAQ:MRBK) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Meridian Bank of Malvern offers deposit accounts, credit products, real estate financing, residential mortgages, investment and wealth management and electronic payments processing services. Meridian Bank of Malvern is based in United States. “

Separately, ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd.

Shares of MRBK opened at $17.03 on Wednesday. The firm has a market cap of $109.56 million, a PE ratio of 12.90, a P/E/G ratio of 1.53 and a beta of -0.07. The firm has a fifty day moving average price of $16.93. Meridian Bank has a 1 year low of $15.26 and a 1 year high of $18.88.

Meridian Bank (NASDAQ:MRBK) last issued its earnings results on Thursday, May 23rd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.22 by $0.09. The company had revenue of $14.92 million for the quarter, compared to analysts’ expectations of $15.08 million. As a group, sell-side analysts forecast that Meridian Bank will post 1.4 EPS for the current fiscal year.

A hedge fund recently raised its stake in Meridian Bank stock. Punch & Associates Investment Management Inc. increased its holdings in shares of Meridian Bank (NASDAQ:MRBK) by 18.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,500 shares of the company’s stock after purchasing an additional 3,400 shares during the quarter. Punch & Associates Investment Management Inc. owned 0.34% of Meridian Bank worth $388,000 as of its most recent filing with the SEC. 45.96% of the stock is owned by institutional investors.

About Meridian Bank

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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