Meridian Bank (NASDAQ:MRBK) had its target price lifted by equities research analysts at Keefe, Bruyette & Woods from $22.00 to $23.00 in a research report issued to clients and investors on Friday, AnalystRatings.com reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 53.13% from the company’s current price.
A number of other analysts also recently issued reports on MRBK. DA Davidson cut their target price on Meridian Bank from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Zacks Investment Research raised Meridian Bank from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, July 10th. Finally, ValuEngine downgraded Meridian Bank from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd.
Shares of MRBK opened at $15.02 on Friday. Meridian Bank has a 52-week low of $10.68 and a 52-week high of $20.89. The company has a market capitalization of $91.54 million, a PE ratio of 6.42 and a beta of 0.63. The stock has a fifty day simple moving average of $15.42 and a two-hundred day simple moving average of $16.39.
Meridian Bank (NASDAQ:MRBK) last issued its earnings results on Monday, July 27th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.71. The company had revenue of $32.28 million during the quarter, compared to analyst estimates of $19.98 million. On average, equities analysts expect that Meridian Bank will post 1.54 EPS for the current year.
In other Meridian Bank news, Director Robert T. Holland acquired 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost of $16.54 per share, with a total value of $29,772.00. 12.69% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. UBS Group AG boosted its holdings in Meridian Bank by 30.8% during the 1st quarter. UBS Group AG now owns 3,271 shares of the company’s stock valued at $45,000 after acquiring an additional 771 shares during the period. Fourthstone LLC boosted its holdings in Meridian Bank by 1.0% during the 1st quarter. Fourthstone LLC now owns 101,739 shares of the company’s stock valued at $1,392,000 after acquiring an additional 1,039 shares during the period. Global Retirement Partners LLC purchased a new position in Meridian Bank during the 2nd quarter valued at about $48,000. First Manhattan Co. boosted its holdings in Meridian Bank by 2.9% during the 1st quarter. First Manhattan Co. now owns 147,949 shares of the company’s stock valued at $2,023,000 after acquiring an additional 4,149 shares during the period. Finally, BlackRock Inc. boosted its holdings in Meridian Bank by 149.4% during the 1st quarter. BlackRock Inc. now owns 17,021 shares of the company’s stock valued at $233,000 after acquiring an additional 10,197 shares during the period. 41.14% of the stock is owned by hedge funds and other institutional investors.
Meridian Bank Company Profile
Meridian Corporation operates as the bank holding for Meridian Bank that provides commercial banking products and services for small and middle market businesses primarily in southeast Pennsylvania, Delaware, and southern New Jersey. The company offers non-interest and interest checking deposits and time deposits, as well as money market, and savings accounts; and commercial and industrial loans, commercial real estate loans, and consumer and home equity loans, as well as business lines of credit, term loans, small business lending, lease financing, and shared national credits.
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