Q3 2024 EPS Estimates for Meridian Co. Reduced by DA Davidson (NASDAQ:MRBK)

Meridian Co. (NASDAQ:MRBK) – Research analysts at DA Davidson decreased their Q3 2024 EPS estimates for shares of Meridian in a research note issued on Thursday, October 3rd. DA Davidson analyst M. Navas now anticipates that the company will post earnings per share of $0.36 for the quarter, down from their prior estimate of $0.38. The consensus estimate for Meridian’s current full-year earnings is $1.25 per share.

Meridian (NASDAQ:MRBK) last released its earnings results on Friday, July 26th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). The company had revenue of $26.09 million for the quarter, compared to analyst estimates of $25.57 million. Meridian had a net margin of 5.85% and a return on equity of 6.66%.

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

Meridian Stock Up 2.1 %

Meridian stock opened at $13.05 on Friday. The stock has a market cap of $145.98 million, a price-to-earnings ratio of 12.43 and a beta of 0.75. 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’s 50-day moving average price is $11.60 and its two-hundred day moving average price is $10.51. Meridian has a 52 week low of $8.26 and a 52 week high of $14.24.

Hedge Funds Weigh In On Meridian

Hedge funds have recently made changes to their positions in the business. Borer Denton & Associates Inc. acquired a new position in shares of Meridian in the 4th quarter worth approximately $476,000. Acadian Asset Management LLC grew its stake in shares of Meridian by 4.6% in the 1st quarter. Acadian Asset Management LLC now owns 54,409 shares of the company’s stock worth $538,000 after purchasing an additional 2,396 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Meridian by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 171,249 shares of the company’s stock worth $1,801,000 after acquiring an additional 10,514 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Meridian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a $0.125 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.50 annualized dividend and a dividend yield of 3.83%. Meridian’s dividend payout ratio is currently 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.