MERIDIAN BK PAO/SH (MRBK) Given $21.00 Average Target Price by Analysts

MERIDIAN BK PAO/SH (NASDAQ:MRBK) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 12 month consensus price objective of $21.00 for the company and are anticipating that the company will post $0.41 EPS for the current quarter, according to Zacks. Zacks has also given MERIDIAN BK PAO/SH an industry rank of 167 out of 256 based on the ratings given to its competitors.

MRBK has been the topic of several recent research reports. ValuEngine cut MERIDIAN BK PAO/SH from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. Zacks Investment Research raised MERIDIAN BK PAO/SH from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, November 6th.

Shares of NASDAQ MRBK opened at $17.11 on Friday. The company has a market capitalization of $110.17 million, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.43 and a beta of -0.29. MERIDIAN BK PAO/SH has a fifty-two week low of $15.26 and a fifty-two week high of $20.42.

MERIDIAN BK PAO/SH (NASDAQ:MRBK) last announced its earnings results on Monday, October 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.25. The company had revenue of $17.55 million for the quarter, compared to the consensus estimate of $17.94 million. As a group, research analysts anticipate that MERIDIAN BK PAO/SH will post 1.42 EPS for the current year.

A hedge fund recently raised its stake in MERIDIAN BK PAO/SH stock. Vanguard Group Inc increased its position in MERIDIAN BK PAO/SH (NASDAQ:MRBK) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,736 shares of the company’s stock after acquiring an additional 600 shares during the period. Vanguard Group Inc owned approximately 2.04% of MERIDIAN BK PAO/SH worth $2,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 45.54% of the company’s stock.

About MERIDIAN BK PAO/SH

Meridian Corporation operates as the bank holding for Meridian Bank that provides commercial banking products and services for retail and commercial customers primarily in southeastern Pennsylvania, Delaware, and south New Jersey. It offers non-interest bearing deposits and time deposits, as well as interest checking, money market, and savings accounts; and commercial and industrial loans, commercial real estate loans, and consumer and home equity loans, as well as homeowner mortgages.

Read More: The mechanics of the bid-ask spread in trading

Get a free copy of the Zacks research report on MERIDIAN BK PAO/SH (MRBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for MERIDIAN BK PAO/SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MERIDIAN BK PAO/SH and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply