Meridian (NASDAQ:MRBK) Announces Earnings Results

Meridian (NASDAQ:MRBK) posted its earnings results on Friday. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01, Yahoo Finance reports. Meridian had a return on equity of 8.54% and a net margin of 7.86%.

Meridian Stock Performance

MRBK stock traded up $0.08 during midday trading on Friday, reaching $9.10. The stock had a trading volume of 13,070 shares, compared to its average volume of 8,536. The stock has a market cap of $101.83 million, a PE ratio of 7.91 and a beta of 0.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.97 and a current ratio of 0.98. The firm has a fifty day simple moving average of $9.47 and a two-hundred day simple moving average of $11.11. Meridian has a 52-week low of $7.80 and a 52-week high of $14.24.

Analyst Ratings Changes

A number of research firms have weighed in on MRBK. Piper Sandler lowered Meridian from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $13.00 in a report on Monday, January 29th. TheStreet lowered Meridian from a “b-” rating to a “c” rating in a report on Friday, January 26th.

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.