Meridian (NASDAQ:MRBK) Issues Earnings Results

Meridian (NASDAQ:MRBK) issued its earnings results on Thursday. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07, Zacks reports. Meridian had a return on equity of 6.66% and a net margin of 5.85%. The business had revenue of $51.15 million during the quarter, compared to analysts’ expectations of $26.57 million.

Meridian Trading Up 1.6 %

Meridian stock traded up $0.21 during midday trading on Friday, hitting $13.19. 30,400 shares of the stock were exchanged, compared to its average volume of 13,392. Meridian has a 52 week low of $8.26 and a 52 week high of $14.24. The stock has a market capitalization of $147.60 million, a PE ratio of 14.03 and a beta of 0.75. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $12.19 and a two-hundred day simple moving average of $10.85.

Meridian Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be paid a $0.125 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.79%. Meridian’s dividend payout ratio (DPR) is presently 53.19%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler increased their price target on Meridian from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th.

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.