DA Davidson Has Lowered Expectations for Meridian (NASDAQ:MRBK) Stock Price

Meridian (NASDAQ:MRBK - Get Free Report) had its price target cut by equities researchers at DA Davidson from $19.00 to $18.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's price target would indicate a potential upside of 32.06% from the stock's previous close. DA Davidson also issued estimates for Meridian's Q2 2025 earnings at $0.39 EPS, FY2025 earnings at $1.50 EPS and FY2026 earnings at $2.35 EPS.

Meridian Trading Up 2.6 %

Shares of NASDAQ:MRBK traded up $0.35 during midday trading on Tuesday, hitting $13.63. 45,388 shares of the stock traded hands, compared to its average volume of 30,446. Meridian has a one year low of $8.80 and a one year high of $17.33. The stock has a market capitalization of $153.81 million, a PE ratio of 9.40 and a beta of 0.71. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.30. The business's 50 day moving average is $13.90 and its two-hundred day moving average is $14.68.

Meridian (NASDAQ:MRBK - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.12). Meridian had a net margin of 8.28% and a return on equity of 10.01%. The business had revenue of $27.10 million for the quarter, compared to analysts' expectations of $27.93 million. As a group, research analysts forecast that Meridian will post 2.07 earnings per share for the current year.

Hedge Funds Weigh In On Meridian

A number of institutional investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new position in shares of Meridian in the 4th quarter worth about $139,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Meridian during the fourth quarter valued at approximately $186,000. Citadel Advisors LLC lifted its holdings in shares of Meridian by 29.0% during the fourth quarter. Citadel Advisors LLC now owns 18,347 shares of the company's stock valued at $252,000 after purchasing an additional 4,129 shares during the last quarter. Northern Trust Corp grew its stake in shares of Meridian by 16.5% in the 4th quarter. Northern Trust Corp now owns 18,452 shares of the company's stock worth $253,000 after buying an additional 2,609 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new stake in shares of Meridian in the 4th quarter worth approximately $315,000. Institutional investors own 58.56% of the company's stock.

Meridian Company Profile

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.