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

Meridian (NASDAQ:MRBK) issued its earnings results on Friday. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate 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%.

Meridian Stock Up 0.9 %

MRBK traded up $0.08 on Friday, reaching $9.10. The company’s stock had a trading volume of 13,070 shares, compared to its average volume of 8,536. The stock has a market cap of $101.83 million, a price-to-earnings ratio of 7.91 and a beta of 0.68. Meridian has a 1 year low of $7.80 and a 1 year high of $14.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.97. The business’s 50 day moving average is $9.47 and its 200 day moving average is $11.11.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler downgraded Meridian from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $13.00 in a research report on Monday, January 29th. TheStreet downgraded Meridian from a “b-” rating to a “c” rating in a report on Friday, January 26th.

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.