Meridian (NASDAQ:MRBK) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Meridian (NASDAQ:MRBK) posted its quarterly earnings data on Thursday. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07, Zacks reports. Meridian had a return on equity of 6.66% and a net margin of 5.85%. The firm had revenue of $51.15 million during the quarter, compared to analysts’ expectations of $26.57 million.

Meridian Stock Performance

Shares of NASDAQ MRBK traded up $0.21 during mid-day trading on Friday, hitting $13.19. The stock had a trading volume of 30,400 shares, compared to its average volume of 13,392. The company has a 50 day moving average of $12.19 and a two-hundred day moving average of $10.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.95 and a current ratio of 0.97. The firm has a market cap of $147.60 million, a PE ratio of 14.03 and a beta of 0.75. Meridian has a twelve month low of $8.26 and a twelve month high of $14.24.

Meridian Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.50 annualized dividend and a dividend yield of 3.79%. Meridian’s payout ratio is currently 53.19%.

Analysts Set New Price Targets

Separately, Piper Sandler raised their price target on Meridian from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th.

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.