Meridian (NASDAQ:MRBK) Releases Earnings Results, Beats Expectations By $0.14 EPS

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

Meridian Price Performance

Shares of Meridian stock opened at $15.55 on Friday. The business has a 50 day simple moving average of $15.01 and a two-hundred day simple moving average of $13.12. Meridian has a 12 month low of $8.26 and a 12 month high of $17.33. The stock has a market capitalization of $174.78 million, a P/E ratio of 15.40 and a beta of 0.81. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. DA Davidson lifted their target price on Meridian from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Piper Sandler boosted their target price on Meridian from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note 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.