FY2025 EPS Estimates for Meridian Bank Raised by DA Davidson

Meridian Bank (NASDAQ:MRBK - Free Report) - DA Davidson boosted their FY2025 earnings per share (EPS) estimates for Meridian Bank in a research note issued on Tuesday, July 1st. DA Davidson analyst M. Navas now forecasts that the company will post earnings of $1.60 per share for the year, up from their prior estimate of $1.50. DA Davidson currently has a "Buy" rating and a $18.00 target price 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 announced its quarterly earnings results on Friday, April 25th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.12). The business had revenue of $27.10 million during the quarter, compared to analyst estimates of $27.93 million. Meridian Bank had a net margin of 8.09% and a return on equity of 9.52%.

Separately, Piper Sandler lowered their price target on Meridian Bank from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th.

Meridian Bank Stock Up 1.7%

MRBK traded up $0.23 on Thursday, reaching $13.98. The company's stock had a trading volume of 75,801 shares, compared to its average volume of 40,064. The stock has a 50 day moving average of $13.17 and a two-hundred day moving average of $14.17. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $157.69 million, a price-to-earnings ratio of 9.85 and a beta of 0.67. Meridian Bank has a fifty-two week low of $10.04 and a fifty-two week high of $17.33.

Meridian Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 12th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Monday, May 12th. Meridian Bank's payout ratio is currently 35.21%.

Insider Buying and Selling at Meridian Bank

In other news, Director Robert M. Casciato bought 2,000 shares of Meridian Bank stock in a transaction dated 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 purchase, the director owned 215,396 shares of the company's stock, valued at approximately $2,970,310.84. The trade was 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. Insiders purchased 3,208 shares of company stock valued at $44,416 over the last three months. 14.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Meridian Bank

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in shares of Meridian Bank by 410.2% in the fourth quarter. Millennium Management LLC now owns 52,244 shares of the company's stock valued at $716,000 after purchasing an additional 42,004 shares during the period. Jane Street Group LLC acquired a new stake in shares of Meridian Bank in the fourth quarter valued at about $322,000. Truffle Hound Capital LLC acquired a new stake in shares of Meridian Bank in the fourth quarter valued at about $2,742,000. Arrowstreet Capital Limited Partnership raised its position in Meridian Bank by 122.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 44,707 shares of the company's stock worth $613,000 after acquiring an additional 24,648 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Meridian Bank by 265.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,959 shares of the company's stock worth $507,000 after acquiring an additional 26,835 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Meridian Bank 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.