Meridian (NASDAQ:MRBK) Announces Earnings Results, Beats Expectations By $0.01 EPS

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

Meridian Stock Up 0.9 %

MRBK stock opened at $9.10 on Friday. 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 business has a 50 day moving average price of $9.47 and a two-hundred day moving average price of $11.12. The company has a market cap of $101.83 million, a price-to-earnings ratio of 8.67 and a beta of 0.68. Meridian has a twelve month low of $7.80 and a twelve month high of $14.24.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MRBK. Piper Sandler lowered 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 research report on Monday, January 29th. TheStreet lowered Meridian from a “b-” rating to a “c” rating in a research report on Friday, January 26th.

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.