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

Meridian (NASDAQ:MRBK) released its quarterly earnings data on Friday. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01, Yahoo Finance reports. The firm had revenue of $45.20 million for the quarter, compared to analysts’ expectations of $23.68 million. Meridian had a net margin of 7.86% and a return on equity of 8.54%.

Meridian Trading Up 0.9 %

MRBK stock opened at $9.10 on Friday. The firm has a fifty day moving average price of $9.47 and a 200 day moving average price of $11.12. Meridian has a fifty-two week low of $7.80 and a fifty-two week high of $14.24. 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 market cap of $101.83 million, a PE ratio of 8.67 and a beta of 0.68.

Wall Street Analysts Forecast Growth

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

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.