Meridian (NASDAQ:MRBK) Issues Earnings Results

Meridian (NASDAQ:MRBK) issued its quarterly earnings results on Thursday. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $51.15 million for the quarter, compared to analysts’ expectations of $26.57 million.

Meridian Price Performance

NASDAQ MRBK opened at $13.19 on Friday. Meridian has a 1 year low of $8.26 and a 1 year high of $14.24. The business’s fifty day moving average is $12.19 and its two-hundred day moving average is $10.87. The stock has a market capitalization of $147.60 million, a P/E ratio of 14.03 and a beta of 0.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.95 and a current ratio of 0.97.

Meridian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Tuesday, November 12th. Meridian’s payout ratio is 53.19%.

Wall Street Analyst Weigh In

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

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.