Equities Analysts Issue Forecasts for Meridian Co.'s Q3 2024 Earnings (NASDAQ:MRBK)

Meridian Co. (NASDAQ:MRBK - Free Report) - Research analysts at DA Davidson lowered their Q3 2024 earnings per share estimates for Meridian in a note issued to investors on Thursday, October 3rd. DA Davidson analyst M. Navas now forecasts that the company will post earnings per share of $0.36 for the quarter, down from their prior estimate of $0.38. The consensus estimate for Meridian's current full-year earnings is $1.25 per share.

Meridian (NASDAQ:MRBK - Get Free Report) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.02). The company had revenue of $26.09 million during the quarter, compared to the consensus estimate of $25.57 million. Meridian had a net margin of 5.85% and a return on equity of 6.66%.

Separately, Piper Sandler raised their price target on Meridian from $11.00 to $13.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th.

Meridian Stock Up 2.1 %

MRBK stock traded up $0.27 during mid-day trading on Friday, reaching $13.05. The company had a trading volume of 14,487 shares, compared to its average volume of 13,740. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.95. The stock has a 50 day simple moving average of $11.57 and a two-hundred day simple moving average of $10.49. The company has a market capitalization of $145.98 million, a price-to-earnings ratio of 12.38 and a beta of 0.75. Meridian has a 52 week low of $8.26 and a 52 week high of $14.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Borer Denton & Associates Inc. acquired a new stake in Meridian during the 4th quarter worth approximately $476,000. Acadian Asset Management LLC lifted its holdings in Meridian by 4.6% during the 1st quarter. Acadian Asset Management LLC now owns 54,409 shares of the company's stock worth $538,000 after purchasing an additional 2,396 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Meridian by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 171,249 shares of the company's stock worth $1,801,000 after purchasing an additional 10,514 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Meridian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.50 annualized dividend and a dividend yield of 3.83%. Meridian's dividend payout ratio is currently 47.62%.

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.