Meridian (NASDAQ:MRBK) Announces Quarterly Earnings Results, Beats Expectations 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 the consensus estimate of $0.35 by $0.14, Zacks reports. Meridian had a return on equity of 6.99% and a net margin of 6.00%.

Meridian Stock Performance

Shares of Meridian stock opened at $15.90 on Friday. The stock’s fifty day moving average is $15.08 and its two-hundred day moving average is $13.18. The company has a market capitalization of $178.72 million, a PE ratio of 15.74 and a beta of 0.81. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.30. Meridian has a 52 week low of $8.26 and a 52 week high of $17.33.

Analyst Ratings Changes

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

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.