Wall Street analysts expect that Meridian Bank (NASDAQ:MRBK) will announce $0.19 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Meridian Bank’s earnings. The highest EPS estimate is $0.45 and the lowest is $0.05. Meridian Bank reported earnings per share of $0.39 during the same quarter last year, which would indicate a negative year over year growth rate of 51.3%. The company is scheduled to issue its next quarterly earnings report on Monday, August 3rd.
On average, analysts expect that Meridian Bank will report full-year earnings of $1.54 per share for the current fiscal year, with EPS estimates ranging from $1.40 to $1.68. For the next fiscal year, analysts forecast that the firm will report earnings of $1.68 per share, with EPS estimates ranging from $1.00 to $2.28. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Meridian Bank.
Meridian Bank (NASDAQ:MRBK) last announced its earnings results on Monday, April 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.16. The company had revenue of $20.02 million for the quarter, compared to the consensus estimate of $17.11 million.
A number of brokerages have recently commented on MRBK. ValuEngine lowered Meridian Bank from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Zacks Investment Research upgraded Meridian Bank from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday. Finally, DA Davidson cut their price target on Meridian Bank from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, April 30th.
Shares of MRBK stock traded up $1.14 during trading hours on Monday, reaching $13.89. 12,700 shares of the company’s stock were exchanged, compared to its average volume of 55,594. Meridian Bank has a fifty-two week low of $10.68 and a fifty-two week high of $20.89. The stock has a market capitalization of $77.70 million, a P/E ratio of 7.12 and a beta of 0.63. The business has a fifty day moving average price of $16.04 and a 200-day moving average price of $16.95.
In other news, CEO Christopher J. Annas bought 3,360 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average cost of $15.50 per share, for a total transaction of $52,080.00. Also, Director Robert T. Holland bought 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average price of $16.54 per share, with a total value of $29,772.00. Insiders purchased 6,160 shares of company stock valued at $97,352 over the last 90 days. 12.69% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fourthstone LLC acquired a new position in Meridian Bank during the fourth quarter worth $2,033,000. State Street Corp bought a new stake in shares of Meridian Bank in the 1st quarter worth about $141,000. BlackRock Inc. grew its holdings in shares of Meridian Bank by 149.4% in the 1st quarter. BlackRock Inc. now owns 17,021 shares of the company’s stock worth $233,000 after purchasing an additional 10,197 shares during the last quarter. First Manhattan Co. increased its position in shares of Meridian Bank by 2.9% during the 1st quarter. First Manhattan Co. now owns 147,949 shares of the company’s stock worth $2,023,000 after purchasing an additional 4,149 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Meridian Bank by 30.8% during the 1st quarter. UBS Group AG now owns 3,271 shares of the company’s stock valued at $45,000 after purchasing an additional 771 shares during the last quarter. Institutional investors and hedge funds own 41.14% of the company’s stock.
About Meridian Bank
Meridian Corporation operates as the bank holding for Meridian Bank that provides commercial banking products and services for small and middle market businesses primarily in southeast Pennsylvania, Delaware, and southern New Jersey. The company offers non-interest and interest checking deposits and time deposits, as well as money market, and savings accounts; and commercial and industrial loans, commercial real estate loans, and consumer and home equity loans, as well as business lines of credit, term loans, small business lending, lease financing, and shared national credits.
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