Brokerages Anticipate Meridian Bank (NASDAQ:MRBK) to Post $0.37 EPS

Shares of Meridian Bank (NASDAQ:MRBK) have been given an average broker rating score of 1.50 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and one has given a strong buy rating to the company. Meridian Bank’s rating score has declined by 50% from 90 days ago as a result of various analysts’ upgrades and downgrades.

Analysts have set a 1-year consensus price target of $21.00 for the company and are expecting that the company will post $0.37 EPS for the current quarter, according to Zacks. Zacks has also given Meridian Bank an industry rank of 169 out of 256 based on the ratings given to its competitors.

A number of equities research analysts have recently issued reports on MRBK shares. Zacks Investment Research raised shares of Meridian Bank from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods raised shares of Meridian Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 6th. Finally, ValuEngine cut shares of Meridian Bank from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd.

Shares of Meridian Bank stock remained flat at $$17.93 during trading on Friday. 1,100 shares of the stock were exchanged, compared to its average volume of 9,284. The firm’s 50 day moving average price is $17.18 and its 200-day moving average price is $17.36. The firm has a market capitalization of $114.88 million, a price-to-earnings ratio of 13.58, a PEG ratio of 1.55 and a beta of -0.07. Meridian Bank has a 52 week low of $15.26 and a 52 week high of $18.88.

Meridian Bank (NASDAQ:MRBK) last announced its earnings results on Monday, July 29th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.05. The business had revenue of $16.85 million during the quarter, compared to the consensus estimate of $17.38 million. On average, analysts forecast that Meridian Bank will post 1.45 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of MRBK. BlackRock Inc. lifted its position in Meridian Bank by 12.7% during the second quarter. BlackRock Inc. now owns 7,149 shares of the company’s stock worth $121,000 after purchasing an additional 808 shares during the period. Punch & Associates Investment Management Inc. lifted its position in Meridian Bank by 18.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 21,500 shares of the company’s stock worth $388,000 after purchasing an additional 3,400 shares during the period. River Oaks Capital LLC lifted its position in Meridian Bank by 54.1% during the second quarter. River Oaks Capital LLC now owns 38,518 shares of the company’s stock worth $651,000 after purchasing an additional 13,518 shares during the period. Context BH Capital Management LP lifted its position in Meridian Bank by 1.0% during the second quarter. Context BH Capital Management LP now owns 61,420 shares of the company’s stock worth $1,038,000 after purchasing an additional 600 shares during the period. Finally, Vanguard Group Inc. lifted its position in Meridian Bank by 7.0% during the second quarter. Vanguard Group Inc. now owns 140,136 shares of the company’s stock worth $2,368,000 after purchasing an additional 9,200 shares during the period. 45.96% of the stock is owned by institutional investors and hedge funds.

About Meridian Bank

Meridian Corporation operates as the bank holding for Meridian Bank that provides commercial banking products and services for retail and commercial customers primarily in southeastern Pennsylvania, Delaware, and south New Jersey. It offers non-interest bearing deposits and time deposits, as well as interest checking, money market, and savings accounts; and commercial and industrial loans, commercial real estate loans, and consumer and home equity loans, as well as homeowner mortgages.

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