Meridian Bank (NASDAQ:MRBK - Free Report) - Equities researchers at DA Davidson upped their FY2026 EPS estimates for shares of Meridian Bank in a research note issued on Tuesday, July 29th. DA Davidson analyst M. Navas now forecasts that the company will post earnings of $2.30 per share for the year, up from their previous forecast of $2.25. DA Davidson has a "Buy" rating and a $19.00 price objective on the stock. The consensus estimate for Meridian Bank's current full-year earnings is $2.07 per share.
Meridian Bank (NASDAQ:MRBK - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.07. Meridian Bank had a net margin of 9.01% and a return on equity of 10.73%. The business had revenue of $32.45 million during the quarter, compared to analysts' expectations of $29.65 million.
Separately, Piper Sandler decreased their price target on shares of Meridian Bank from $17.00 to $16.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th.
Check Out Our Latest Analysis on Meridian Bank
Meridian Bank Stock Up 0.5%
Shares of Meridian Bank stock traded up $0.07 during trading hours on Thursday, hitting $14.48. The company had a trading volume of 30,944 shares, compared to its average volume of 63,724. The company has a market cap of $163.28 million, a P/E ratio of 8.99 and a beta of 0.71. The company's 50-day moving average is $13.45 and its two-hundred day moving average is $14.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.98 and a quick ratio of 0.96. Meridian Bank has a twelve month low of $10.04 and a twelve month high of $17.33.
Hedge Funds Weigh In On Meridian Bank
A number of large investors have recently bought and sold shares of MRBK. Bessemer Group Inc. purchased a new position in shares of Meridian Bank in the 2nd quarter valued at about $27,000. Goldman Sachs Group Inc. increased its holdings in shares of Meridian Bank by 114.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 83,179 shares of the company's stock valued at $1,198,000 after purchasing an additional 44,332 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Meridian Bank by 75.3% in the 1st quarter. Acadian Asset Management LLC now owns 122,199 shares of the company's stock valued at $1,758,000 after purchasing an additional 52,500 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Meridian Bank by 178.7% in the 1st quarter. Jane Street Group LLC now owns 65,483 shares of the company's stock valued at $943,000 after purchasing an additional 41,984 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of Meridian Bank in the 1st quarter valued at about $209,000. Hedge funds and other institutional investors own 58.56% of the company's stock.
Insider Buying and Selling
In other news, Director Robert M. Casciato acquired 2,000 shares of the business's stock in a transaction on Friday, May 9th. The stock was bought at an average price of $13.79 per share, for a total transaction of $27,580.00. Following the transaction, the director owned 215,396 shares in the company, valued at $2,970,310.84. This represents a 0.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have acquired 3,208 shares of company stock worth $44,416. 14.38% of the stock is currently owned by corporate insiders.
Meridian Bank Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 11th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, August 11th. This represents a $0.50 dividend on an annualized basis and a yield of 3.5%. Meridian Bank's dividend payout ratio is presently 31.06%.
About Meridian Bank
(
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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.
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