Meridian (NASDAQ:MRBK) Releases Earnings Results, Beats Estimates By $0.07 EPS

Meridian (NASDAQ:MRBK) announced its earnings results on Thursday. The company reported $0.42 EPS for the quarter, topping 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 business had revenue of $51.15 million for the quarter, compared to the consensus estimate of $26.57 million.

Meridian Stock Up 1.6 %

Shares of NASDAQ MRBK opened at $13.19 on Friday. The firm’s 50-day simple moving average is $12.19 and its 200 day simple moving average is $10.87. The company has a market cap of $147.60 million, a price-to-earnings ratio of 14.03 and a beta of 0.75. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. Meridian has a 12-month low of $8.26 and a 12-month high of $14.24.

Meridian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.50 annualized dividend and a yield of 3.79%. Meridian’s dividend payout ratio (DPR) is 53.19%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their price objective on Meridian from $11.00 to $13.00 and gave the stock 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.