Meridian (NASDAQ:MRBK) Releases Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• Meridian reported quarterly EPS of $0.43, missing the $0.46 analyst consensus by $0.03. Revenue was $30.14 million, below expectations of $33.05 million.
• MRBK shares fell $0.32 to $18.70 during Friday trading. The stock has a market capitalization of approximately $223 million and trades at a price-to-earnings ratio of 9.08.
• Analyst sentiment remains moderately positive, with three Buy ratings and one Sell rating; the consensus price target is $22.00, above the current share price.

Meridian (NASDAQ:MRBK - Get Free Report) posted its quarterly earnings data on Friday. The company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.03), FiscalAI reports. The company had revenue of $30.14 million for the quarter, compared to the consensus estimate of $33.05 million. Meridian had a return on equity of 12.29% and a net margin of 11.89%.

Meridian Price Performance

Shares of MRBK stock traded down $0.32 during trading hours on Friday, hitting $18.70. The company's stock had a trading volume of 58,053 shares, compared to its average volume of 101,507. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Meridian has a twelve month low of $13.92 and a twelve month high of $21.67. The stock has a market cap of $223.07 million, a price-to-earnings ratio of 9.08 and a beta of 0.65. The business has a fifty day moving average of $19.10 and a 200-day moving average of $19.22.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MRBK shares. Weiss Ratings raised shares of Meridian from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, August 14th. DA Davidson set a $23.00 price objective on shares of Meridian in a report on Tuesday, August 4th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

Meridian Company Profile

Meridian Corporation is a bank holding company headquartered in Malvern, Pennsylvania. Through its principal subsidiary, Meridian Bank, the company provides commercial and community banking services to businesses, professionals and individuals in the Mid-Atlantic region.

Meridian Bank offers business lending, commercial real estate financing, construction loans, equipment financing, residential and consumer lending, deposit accounts, cash-management services and online banking. The company also provides mortgage banking and wealth management services, including investment and financial planning solutions.

Meridian was established in 2004 and serves customers through a network of banking offices in southeastern Pennsylvania, New Jersey and surrounding markets.

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