Meridian (NASDAQ:MRBK) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

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

Meridian Stock Performance

Meridian stock opened at $9.10 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.32. Meridian has a 1-year low of $7.80 and a 1-year high of $14.24. The firm has a market capitalization of $101.83 million, a PE ratio of 8.67 and a beta of 0.68. The firm’s 50 day simple moving average is $9.47 and its 200 day simple moving average is $11.12.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MRBK. Piper Sandler lowered shares of Meridian from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $13.00 in a report on Monday, January 29th. TheStreet lowered shares of Meridian from a “b-” rating to a “c” rating in a report on Friday, January 26th.

About Meridian

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.