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

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

Meridian Price Performance

Shares of NASDAQ MRBK opened at $18.70 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.98 and a quick ratio of 0.95. The business has a 50-day moving average of $19.08 and a 200-day moving average of $19.23. Meridian has a 1-year low of $13.92 and a 1-year high of $21.67. The company has a market capitalization of $223.09 million, a price-to-earnings ratio of 9.79 and a beta of 0.65.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MRBK. Weiss Ratings raised shares of Meridian from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 14th. DA Davidson set a $23.00 price objective on shares of Meridian in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Meridian has a consensus rating of “Moderate Buy” and a consensus price target 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.