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

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

Meridian Stock Up 0.9 %

NASDAQ MRBK traded up $0.08 during mid-day trading on Friday, reaching $9.10. 13,070 shares of the company’s stock traded hands, compared to its average volume of 8,536. Meridian has a 1-year low of $7.80 and a 1-year high of $14.24. The company has a fifty day simple moving average of $9.47 and a 200-day simple moving average of $11.12. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.32. The company has a market cap of $101.83 million, a price-to-earnings ratio of 8.67 and a beta of 0.68.

Wall Street Analysts Forecast Growth

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