Meridian (NASDAQ:MRBK - Get Free Report) released its quarterly earnings results on Friday. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.14, Zacks reports. Meridian had a net margin of 6.00% and a return on equity of 6.99%.
Meridian Trading Up 1.5 %
Shares of Meridian stock traded up $0.23 during trading on Friday, hitting $15.90. The company's stock had a trading volume of 32,578 shares, compared to its average volume of 35,309. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.95. Meridian has a 52 week low of $8.26 and a 52 week high of $17.33. The stock has a market cap of $178.72 million, a price-to-earnings ratio of 15.74 and a beta of 0.81. The stock has a 50-day moving average price of $15.01 and a two-hundred day moving average price of $13.12.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on MRBK shares. Piper Sandler lifted their price target on shares of Meridian from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. DA Davidson boosted their price objective on shares of Meridian from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th.
Read Our Latest Research Report on MRBK
About Meridian
(
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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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