Meridian (NASDAQ:MRBK) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Meridian (NASDAQ:MRBK) released its quarterly earnings data on Friday. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03), FiscalAI reports. Meridian had a return on equity of 12.29% and a net margin of 11.89%. The firm had revenue of $30.14 million during the quarter, compared to analyst estimates of $33.05 million.

Meridian Trading Down 1.7%

NASDAQ MRBK traded down $0.32 during trading on Friday, reaching $18.70. 58,053 shares of the stock traded hands, compared to its average volume of 101,507. The stock’s 50-day moving average price is $19.10 and its 200 day moving average price is $19.22. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.24. The firm has a market cap of $223.07 million, a price-to-earnings ratio of 9.08 and a beta of 0.65. Meridian has a fifty-two week low of $13.92 and a fifty-two week high of $21.67.

Analyst Ratings Changes

A number of brokerages recently commented on MRBK. DA Davidson set a $23.00 price objective on shares of Meridian in a research report on Tuesday, August 4th. Weiss Ratings upgraded Meridian from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

About Meridian

Meridian Corporation is a bank holding company headquartered in Malvern, Pennsylvania. Through its principal subsidiary, Meridian Bank, the company provides commercial and community banking services to businesses, professionals and individuals in the Mid-Atlantic region.

Meridian Bank offers business lending, commercial real estate financing, construction loans, equipment financing, residential and consumer lending, deposit accounts, cash-management services and online banking. The company also provides mortgage banking and wealth management services, including investment and financial planning solutions.

Meridian was established in 2004 and serves customers through a network of banking offices in southeastern Pennsylvania, New Jersey and surrounding markets.