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

Meridian (NASDAQ:MRBK) released its quarterly earnings data on Friday. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01, Yahoo Finance reports. Meridian had a net margin of 7.86% and a return on equity of 8.54%.

Meridian Price Performance

Shares of Meridian stock traded up $0.08 on Friday, reaching $9.10. The stock had a trading volume of 13,070 shares, compared to its average volume of 8,536. The business’s 50 day moving average is $9.47 and its two-hundred day moving average is $11.11. 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 company has a market cap of $101.83 million, a P/E ratio of 7.91 and a beta of 0.68.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. TheStreet cut shares of Meridian from a “b-” rating to a “c” rating in a research note on Friday, January 26th. Piper Sandler lowered Meridian from an “overweight” rating to a “neutral” rating and cut their price target for the stock 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.