Meridian (NASDAQ:MRBK) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Meridian (NASDAQ:MRBK) released its quarterly earnings results on Friday. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14, Zacks reports. Meridian had a net margin of 6.00% and a return on equity of 6.99%.

Meridian Stock Performance

Shares of MRBK stock opened at $15.68 on Friday. Meridian has a 52 week low of $8.26 and a 52 week high of $17.33. The business has a 50 day moving average of $15.01 and a two-hundred day moving average of $13.12. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.30. The company has a market cap of $176.19 million, a P/E ratio of 15.52 and a beta of 0.81.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. DA Davidson raised their target price on Meridian from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Piper Sandler increased their price target on shares of Meridian from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th.

About Meridian

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.