Meridian Co. (NASDAQ:MRBK) Expected to Earn Q2 2024 Earnings of $0.33 Per Share

Meridian Co. (NASDAQ:MRBK - Free Report) - Analysts at DA Davidson issued their Q2 2024 EPS estimates for Meridian in a research report issued on Thursday, May 2nd. DA Davidson analyst M. Navas anticipates that the company will post earnings of $0.33 per share for the quarter. The consensus estimate for Meridian's current full-year earnings is $1.38 per share. DA Davidson also issued estimates for Meridian's FY2024 earnings at $1.40 EPS.

Meridian (NASDAQ:MRBK - Get Free Report) last released its earnings results on Friday, April 26th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $45.20 million during the quarter, compared to analysts' expectations of $23.68 million. Meridian had a return on equity of 7.64% and a net margin of 6.75%.

Several other equities research analysts have also recently commented on MRBK. TheStreet cut Meridian from a "b-" rating to a "c" rating in a research note on Friday, January 26th. Piper Sandler downgraded shares of Meridian from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $14.00 to $13.00 in a research report on Monday, January 29th.

Meridian Stock Down 1.6 %

NASDAQ MRBK traded down $0.14 during trading on Friday, hitting $8.75. The stock had a trading volume of 36,968 shares, compared to its average volume of 13,132. The company has a market capitalization of $97.91 million, a PE ratio of 8.33 and a beta of 0.70. The company's 50-day moving average price is $9.40 and its two-hundred day moving average price is $11.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.97 and a current ratio of 0.98. Meridian has a 12 month low of $7.80 and a 12 month high of $14.24.

Meridian Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.50 annualized dividend and a dividend yield of 5.71%. Meridian's dividend payout ratio is presently 47.62%.

Hedge Funds Weigh In On Meridian

Hedge funds and other institutional investors have recently made changes to their positions in the company. LSV Asset Management raised its holdings in shares of Meridian by 3.5% in the 4th quarter. LSV Asset Management now owns 92,822 shares of the company's stock valued at $1,290,000 after purchasing an additional 3,114 shares during the period. Meridian Wealth Partners LLC boosted its stake in shares of Meridian by 11.8% during the 3rd quarter. Meridian Wealth Partners LLC now owns 191,369 shares of the company's stock worth $1,874,000 after acquiring an additional 20,138 shares during the period. Borer Denton & Associates Inc. bought a new position in shares of Meridian during the 4th quarter worth approximately $476,000. Strid Group LLC bought a new position in shares of Meridian during the 1st quarter worth approximately $431,000. Finally, Mendon Capital Advisors Corp bought a new position in shares of Meridian during the 4th quarter worth approximately $670,000. 58.56% of the stock is owned by institutional investors.

Meridian 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.