Meridian Bank (NASDAQ:MRBK) – Equities researchers at Piper Sandler raised their Q2 2020 EPS estimates for shares of Meridian Bank in a note issued to investors on Monday, June 29th. Piper Sandler analyst F. Schiraldi now forecasts that the company will earn $0.45 per share for the quarter, up from their prior forecast of $0.42. Piper Sandler also issued estimates for Meridian Bank’s Q3 2020 earnings at $0.43 EPS, FY2020 earnings at $1.68 EPS, Q1 2021 earnings at $0.62 EPS, Q3 2021 earnings at $0.61 EPS and FY2021 earnings at $2.28 EPS.
Several other equities analysts have also recently weighed in on MRBK. DA Davidson decreased their price target on shares of Meridian Bank from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. ValuEngine raised shares of Meridian Bank from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 6th. Finally, Zacks Investment Research cut shares of Meridian Bank from a “buy” rating to a “hold” rating in a research note on Friday, June 19th.
Shares of MRBK opened at $16.60 on Wednesday. The stock has a market capitalization of $100.25 million, a P/E ratio of 9.71 and a beta of 0.63. Meridian Bank has a twelve month low of $10.68 and a twelve month high of $20.89. The company has a 50 day moving average of $16.24 and a 200-day moving average of $17.18.
Meridian Bank (NASDAQ:MRBK) last issued its quarterly earnings results on Monday, April 27th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.16. The business had revenue of $20.02 million for the quarter, compared to the consensus estimate of $17.11 million.
In other news, Director Robert T. Holland bought 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average cost of $16.54 per share, with a total value of $29,772.00. Also, CEO Christopher J. Annas bought 3,360 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average cost of $15.50 per share, with a total value of $52,080.00. Insiders purchased 6,160 shares of company stock valued at $97,352 over the last three months. 12.69% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. First Manhattan Co. lifted 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 purchasing an additional 4,149 shares during the last quarter. Fourthstone LLC lifted 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 purchasing an additional 1,039 shares during the last quarter. Ancora Advisors LLC lifted its holdings in Meridian Bank by 3.0% during the 4th quarter. Ancora Advisors LLC now owns 23,309 shares of the company’s stock valued at $471,000 after purchasing an additional 684 shares during the last quarter. BlackRock Inc. lifted 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 purchasing an additional 10,197 shares during the last quarter. Finally, State Street Corp acquired a new stake in Meridian Bank during the 1st quarter valued at $141,000. 41.14% of the stock is owned by institutional investors and hedge funds.
About Meridian Bank
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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