Meridian (NASDAQ:MRBK) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Meridian (NASDAQ:MRBK) posted 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. The company had revenue of $45.20 million during 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

Shares of MRBK stock opened at $9.10 on Friday. The firm has a market capitalization of $101.83 million, a price-to-earnings ratio of 8.67 and a beta of 0.68. The stock has a fifty day moving average of $9.47 and a 200 day moving average of $11.12. Meridian has a 52 week low of $7.80 and a 52 week high of $14.24. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.32.

Analyst Ratings Changes

MRBK has been the topic of a number of analyst reports. TheStreet cut shares of Meridian from a “b-” rating to a “c” rating in a research report on Friday, January 26th. Piper Sandler downgraded Meridian from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $14.00 to $13.00 in a report on Monday, January 29th.

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.