Meridian Bank (NASDAQ:MRBK - Get Free Report)'s stock had its "buy (b-)" rating restated by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.
Separately, DA Davidson increased their price target on shares of Meridian Bank from $17.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.50.
View Our Latest Report on Meridian Bank
Meridian Bank Price Performance
Shares of NASDAQ MRBK opened at $15.06 on Wednesday. Meridian Bank has a fifty-two week low of $11.16 and a fifty-two week high of $17.33. The company has a 50 day simple moving average of $15.33 and a two-hundred day simple moving average of $14.15. The company has a market capitalization of $170.18 million, a price-to-earnings ratio of 9.35 and a beta of 0.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 0.97.
Meridian Bank (NASDAQ:MRBK - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.07. Meridian Bank had a net margin of 9.01% and a return on equity of 10.62%. The business had revenue of $32.45 million during the quarter, compared to the consensus estimate of $29.65 million. Analysts expect that Meridian Bank will post 2.07 EPS for the current fiscal year.
Institutional Investors Weigh In On Meridian Bank
Several institutional investors and hedge funds have recently added to or reduced their stakes in MRBK. Fourthstone LLC boosted its holdings in Meridian Bank by 40.4% in the second quarter. Fourthstone LLC now owns 1,084,319 shares of the company's stock worth $13,977,000 after purchasing an additional 311,870 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Meridian Bank by 110.9% in the second quarter. Geode Capital Management LLC now owns 212,905 shares of the company's stock worth $2,745,000 after purchasing an additional 111,939 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Meridian Bank by 75.3% in the first quarter. Acadian Asset Management LLC now owns 122,199 shares of the company's stock worth $1,758,000 after purchasing an additional 52,500 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Meridian Bank by 114.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 83,179 shares of the company's stock worth $1,198,000 after acquiring an additional 44,332 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Meridian Bank by 113.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,065 shares of the company's stock worth $1,139,000 after acquiring an additional 42,106 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company's stock.
About Meridian Bank
(
Get Free Report)
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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