Meridian (NASDAQ:MRBK) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Meridian (NASDAQ:MRBK) issued its quarterly earnings results on Thursday. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.07, Zacks reports. The business had revenue of $51.15 million for the quarter, compared to the consensus estimate of $26.57 million. Meridian had a net margin of 5.85% and a return on equity of 6.66%.

Meridian Stock Performance

Shares of NASDAQ:MRBK opened at $13.19 on Friday. The stock has a market capitalization of $147.60 million, a P/E ratio of 14.03 and a beta of 0.75. Meridian has a 1-year low of $8.26 and a 1-year high of $14.24. 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 business has a 50-day moving average price of $12.19 and a two-hundred day moving average price of $10.87.

Meridian Dividend Announcement

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

Analyst Upgrades and Downgrades

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

About Meridian

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.