Meridian (NASDAQ:MRBK) Releases Earnings Results, Beats Expectations By $0.01 EPS

Meridian (NASDAQ:MRBK) released its earnings results on Friday. The company reported $0.24 EPS for the quarter, beating 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%. The company had revenue of $45.20 million during the quarter, compared to the consensus estimate of $23.68 million.

Meridian Price Performance

Shares of NASDAQ:MRBK traded up $0.08 on Friday, hitting $9.10. The company had a trading volume of 13,070 shares, compared to its average volume of 8,536. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.32. The company has a market cap of $101.83 million, a PE ratio of 7.91 and a beta of 0.68. Meridian has a 52-week low of $7.80 and a 52-week high of $14.24. The business has a 50 day moving average of $9.47 and a 200 day moving average of $11.11.

Analysts Set New Price Targets

MRBK has been the topic of a number of research analyst reports. Piper Sandler downgraded Meridian from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $13.00 in a research report on Monday, January 29th. TheStreet cut shares of Meridian from a “b-” rating to a “c” rating in a research note 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.