Meridian (NASDAQ:MRBK - Get Free Report) had its price target hoisted by stock analysts at DA Davidson from $15.00 to $17.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. DA Davidson's price objective would indicate a potential upside of 21.69% from the stock's previous close.
Separately, Piper Sandler lifted their price objective on shares of Meridian from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Tuesday.
Get Our Latest Research Report on Meridian
Meridian Trading Up 2.6 %
Shares of NASDAQ:MRBK traded up $0.35 during trading on Tuesday, hitting $13.97. 23,400 shares of the company's stock were exchanged, compared to its average volume of 13,488. The firm has a 50-day moving average price of $12.25 and a two-hundred day moving average price of $10.91. Meridian has a 1-year low of $8.26 and a 1-year high of $14.24. The firm has a market cap of $156.32 million, a P/E ratio of 13.69 and a beta of 0.75. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31.
Meridian (NASDAQ:MRBK - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.07. Meridian had a net margin of 6.00% and a return on equity of 7.07%. The business had revenue of $51.15 million for the quarter, compared to analyst estimates of $26.57 million. Equities analysts predict that Meridian will post 1.25 earnings per share for the current year.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Meridian stock. Acadian Asset Management LLC raised its stake in Meridian Co. (NASDAQ:MRBK - Free Report) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,409 shares of the company's stock after buying an additional 2,396 shares during the quarter. Acadian Asset Management LLC owned about 0.49% of Meridian worth $538,000 at the end of the most recent reporting period. 58.56% of the stock is owned by institutional investors.
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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