Analysts Offer Predictions for Meridian Co.’s Q2 2024 Earnings (NASDAQ:MRBK)

Meridian Co. (NASDAQ:MRBK) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Meridian in a research note issued to investors on Thursday, May 2nd. DA Davidson analyst M. Navas forecasts that the company will post earnings of $0.33 per share for the quarter. The consensus estimate for Meridian’s current full-year earnings is $1.35 per share. DA Davidson also issued estimates for Meridian’s FY2024 earnings at $1.40 EPS.

Meridian (NASDAQ:MRBK) last released its quarterly earnings results on Friday, April 26th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $45.20 million for the quarter, compared to analyst estimates of $23.68 million. Meridian had a return on equity of 7.64% and a net margin of 6.75%.

MRBK has been the topic of a number of other research reports. Piper Sandler cut shares of Meridian from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $14.00 to $13.00 in a report on Monday, January 29th. TheStreet downgraded Meridian from a “b-” rating to a “c” rating in a research note on Friday, January 26th.

Meridian Stock Performance

Shares of MRBK stock opened at $8.75 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average price is $9.40 and its 200-day moving average price is $11.09. The stock has a market cap of $97.88 million, a PE ratio of 8.33 and a beta of 0.70. Meridian has a 12 month low of $7.80 and a 12 month high of $14.24.

Institutional Trading of Meridian

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Strid Group LLC purchased a new position in Meridian in the 1st quarter worth about $431,000. Borer Denton & Associates Inc. purchased a new stake in Meridian in the fourth quarter worth about $476,000. Mendon Capital Advisors Corp bought a new position in shares of Meridian in the fourth quarter worth about $670,000. LSV Asset Management lifted its position in shares of Meridian by 3.5% during the 4th quarter. LSV Asset Management now owns 92,822 shares of the company’s stock valued at $1,290,000 after buying an additional 3,114 shares in the last quarter. Finally, Meridian Wealth Partners LLC raised its stake in Meridian by 11.8% during the 3rd quarter. Meridian Wealth Partners LLC now owns 191,369 shares of the company’s stock worth $1,874,000 after acquiring an additional 20,138 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Meridian Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date is Friday, May 10th. Meridian’s payout ratio is 47.62%.

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.