Meridian (NASDAQ:MRBK) Announces Earnings Results

Meridian (NASDAQ:MRBK) announced its quarterly earnings data on Friday. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01, Yahoo Finance reports. The firm had revenue of $45.20 million for the quarter, compared to analyst estimates of $23.68 million. Meridian had a return on equity of 8.54% and a net margin of 7.86%.

Meridian Trading Up 0.9 %

Shares of MRBK stock traded up $0.08 during trading hours on Friday, reaching $9.10. The company had a trading volume of 13,070 shares, compared to its average volume of 8,536. The company has a 50 day moving average of $9.47 and a 200 day moving average of $11.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.97. The firm has a market cap of $101.83 million, a price-to-earnings ratio of 8.67 and a beta of 0.68. Meridian has a 1-year low of $7.80 and a 1-year high of $14.24.

Analyst Ratings Changes

A number of brokerages have commented on MRBK. Piper Sandler lowered Meridian from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $14.00 to $13.00 in a research report on Monday, January 29th. TheStreet lowered Meridian from a “b-” rating to a “c” rating in a research report on Friday, January 26th.

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.