Meridian (NASDAQ:MRBK - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.07, Zacks reports. Meridian had a net margin of 5.85% and a return on equity of 6.66%. The firm had revenue of $51.15 million for the quarter, compared to analyst estimates of $26.57 million.
Meridian Stock Up 1.6 %
Shares of Meridian stock traded up $0.21 during trading hours on Friday, reaching $13.19. 30,400 shares of the company's stock were exchanged, compared to its average volume of 13,392. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $12.19 and a two-hundred day moving average of $10.87. The stock has a market cap of $147.60 million, a P/E ratio of 14.03 and a beta of 0.75. Meridian has a fifty-two week low of $8.26 and a fifty-two week high of $14.24.
Meridian Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be given 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 yield of 3.79%. Meridian's dividend payout ratio (DPR) is presently 53.19%.
Analyst Ratings Changes
Separately, Piper Sandler boosted their price target on Meridian from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th.
Get Our Latest Stock Analysis on Meridian
Meridian Company Profile
(
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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.
Further Reading
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