Meridian (NASDAQ:MRBK) Posts Quarterly Earnings Results

Meridian (NASDAQ:MRBK) released its earnings results on Thursday. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $51.15 million for the quarter, compared to the consensus estimate of $26.57 million.

Meridian Trading Up 1.6 %

Shares of NASDAQ MRBK opened at $13.19 on Friday. The firm has a market capitalization of $147.60 million, a PE ratio of 14.03 and a beta of 0.75. Meridian has a one year low of $8.26 and a one 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 Announces Dividend

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

Wall Street Analyst Weigh In

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

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.