Meridian Bank (NASDAQ:MRBK) Price Target Raised to $19.00 at DA Davidson

Key Points

• DA Davidson has raised the price target for Meridian Bank from $17.00 to $19.00, indicating a potential upside of 27.18% based on the company's current price.
• In contrast, Piper Sandler has lowered its price target from $17.00 to $16.00 and assigned a "neutral" rating on the stock.
• Meridian Bank's latest quarterly earnings reported an EPS of $0.49, exceeding expectations and showing a net margin of 9.01% with a return on equity of 10.73%.

Meridian Bank (NASDAQ:MRBK - Get Free Report) had its price objective upped by research analysts at DA Davidson from $17.00 to $19.00 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 target price suggests a potential upside of 31.81% from the stock's current price. DA Davidson also issued estimates for Meridian Bank's Q3 2025 earnings at $0.50 EPS, FY2025 earnings at $1.65 EPS and FY2026 earnings at $2.30 EPS.

Separately, Piper Sandler reduced their target price on shares of Meridian Bank from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th.

Meridian Bank Trading Down 2.1%

Shares of NASDAQ MRBK traded down $0.32 during midday trading on Tuesday, reaching $14.42. 17,287 shares of the stock were exchanged, compared to its average volume of 63,692. The company has a market capitalization of $162.60 million, a P/E ratio of 8.95 and a beta of 0.67. Meridian Bank has a 52-week low of $10.04 and a 52-week high of $17.33. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average price of $13.43 and a 200-day moving average price of $14.22.

Meridian Bank (NASDAQ:MRBK - Get Free Report) last announced its quarterly 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. The firm had revenue of $32.45 million for the quarter, compared to analysts' expectations of $29.65 million. Meridian Bank had a net margin of 9.01% and a return on equity of 10.73%. Equities research analysts expect that Meridian Bank will post 2.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Meridian Bank news, Director Robert M. Casciato purchased 2,000 shares of the business's stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $13.79 per share, with a total value of $27,580.00. Following the acquisition, the director owned 215,396 shares of the company's stock, valued at $2,970,310.84. The trade was a 0.94% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have bought 3,208 shares of company stock valued at $44,416. 14.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Meridian Bank

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in 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 acquiring an additional 52,500 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in 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 acquiring an additional 44,332 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Meridian Bank by 113.9% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,065 shares of the company's stock valued at $1,139,000 after acquiring an additional 42,106 shares in the last quarter. Millennium Management LLC increased its position in shares of Meridian Bank by 410.2% during the 4th quarter. Millennium Management LLC now owns 52,244 shares of the company's stock worth $716,000 after purchasing an additional 42,004 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Meridian Bank by 178.7% during the 1st quarter. Jane Street Group LLC now owns 65,483 shares of the company's stock worth $943,000 after purchasing an additional 41,984 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

About Meridian Bank

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.