Meridian (NASDAQ:MRBK) Announces Quarterly Earnings Results

Meridian (NASDAQ:MRBKGet Rating) posted its quarterly earnings data on Monday. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.11, MarketWatch Earnings reports. The firm had revenue of $29.14 million for the quarter, compared to the consensus estimate of $28.21 million. Meridian had a return on equity of 19.48% and a net margin of 21.19%.

Shares of MRBK opened at $31.85 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. Meridian has a 1 year low of $24.00 and a 1 year high of $39.78. The stock has a market cap of $194.60 million, a P/E ratio of 6.41 and a beta of 0.50. The stock’s 50-day moving average price is $32.68 and its two-hundred day moving average price is $34.16.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 23rd. Investors of record on Monday, May 16th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, May 13th. Meridian’s dividend payout ratio is 16.10%.

Separately, Zacks Investment Research downgraded Meridian from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 5th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRBK. Cornerstone Advisory LLC acquired a new stake in Meridian in the 4th quarter valued at approximately $116,000. Stillwater Capital Advisors LLC acquired a new position in shares of Meridian during the 4th quarter worth approximately $206,000. Great Valley Advisor Group Inc. acquired a new position in shares of Meridian during the 4th quarter worth approximately $233,000. Two Sigma Advisers LP acquired a new position in shares of Meridian during the 3rd quarter worth approximately $207,000. Finally, Morgan Stanley increased its position in shares of Meridian by 52.6% during the 2nd quarter. Morgan Stanley now owns 9,093 shares of the company’s stock worth $239,000 after purchasing an additional 3,134 shares during the last quarter. 57.00% of the stock is currently owned by institutional investors.

About Meridian (Get Rating)

Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, 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.

See Also

Earnings History for Meridian (NASDAQ:MRBK)

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