Meridian (NASDAQ:MRBK) Issues Earnings Results

Meridian (NASDAQ:MRBK) posted its quarterly earnings data on Friday. The company reported $0.49 earnings per share for the quarter, topping 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 Up 1.5 %

MRBK stock opened at $15.90 on Friday. The company has a market cap 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. The business has a 50-day simple moving average of $15.08 and a 200 day simple moving average of $13.19.

Analysts Set New Price Targets

A number of equities analysts recently commented on MRBK shares. DA Davidson raised their price target on shares of Meridian from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Piper Sandler raised their target price on shares of Meridian from $14.00 to $15.00 and gave the stock 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.