Meridian (NASDAQ:MRBK) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Meridian (NASDAQ:MRBK) issued its quarterly earnings results on Friday. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03), FiscalAI reports. Meridian had a net margin of 11.89% and a return on equity of 12.29%. The company had revenue of $30.14 million during the quarter, compared to analyst estimates of $33.05 million.

Meridian Trading Down 1.7%

Shares of Meridian stock opened at $18.70 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 0.98. Meridian has a 52 week low of $13.92 and a 52 week high of $21.67. The stock has a 50 day moving average price of $19.08 and a two-hundred day moving average price of $19.23. The stock has a market capitalization of $223.09 million, a PE ratio of 9.79 and a beta of 0.65.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. DA Davidson set a $23.00 target price on Meridian in a report on Tuesday, August 4th. Weiss Ratings raised shares of Meridian from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.00.

About Meridian

Meridian Corporation is a bank holding company headquartered in Malvern, Pennsylvania. Through its principal subsidiary, Meridian Bank, the company provides commercial and community banking services to businesses, professionals and individuals in the Mid-Atlantic region.

Meridian Bank offers business lending, commercial real estate financing, construction loans, equipment financing, residential and consumer lending, deposit accounts, cash-management services and online banking. The company also provides mortgage banking and wealth management services, including investment and financial planning solutions.

Meridian was established in 2004 and serves customers through a network of banking offices in southeastern Pennsylvania, New Jersey and surrounding markets.