Meridian (NASDAQ:MRBK) Posts Earnings Results

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

Meridian Trading Up 0.9 %

NASDAQ MRBK opened at $9.10 on Friday. The business has a 50 day simple moving average of $9.47 and a 200 day simple moving average of $11.12. Meridian has a one year low of $7.80 and a one year high of $14.24. The stock has a market capitalization of $101.83 million, a P/E ratio of 8.67 and a beta of 0.68. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.97.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MRBK shares. Piper Sandler lowered Meridian from an “overweight” rating to a “neutral” rating and cut their target price for the company from $14.00 to $13.00 in a research report on Monday, January 29th. TheStreet cut Meridian from a “b-” rating to a “c” rating in a research note 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.