Meridian (NASDAQ:MRBK) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Meridian (NASDAQ:MRBK) issued its earnings results on Friday. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14, Zacks reports. Meridian had a net margin of 6.00% and a return on equity of 6.99%.

Meridian Stock Up 1.5 %

Shares of NASDAQ:MRBK opened at $15.90 on Friday. The business has a fifty day simple moving average of $15.08 and a 200 day simple moving average of $13.19. Meridian has a 12-month low of $8.26 and a 12-month high of $17.33. The firm has a market cap of $178.72 million, a P/E 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.

Analyst Ratings Changes

MRBK has been the topic of a number of research reports. DA Davidson boosted their price objective on Meridian from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Piper Sandler boosted their price target on 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.