Meridian (NASDAQ:MRBK) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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

Meridian Trading Up 0.9 %

NASDAQ:MRBK traded up $0.08 during trading hours on Friday, hitting $9.10. 13,070 shares of the stock were exchanged, compared to its average volume of 8,536. The company has a market capitalization of $101.83 million, a P/E ratio of 7.91 and a beta of 0.68. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $9.47 and its two-hundred day moving average is $11.11. Meridian has a twelve month low of $7.80 and a twelve month high of $14.24.

Wall Street Analysts Forecast Growth

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