Meridian (NASDAQ:MRBK) Stock Price Expected to Rise, Piper Sandler Analyst Says

Meridian (NASDAQ:MRBK) had its price target lifted by stock analysts at Piper Sandler from $14.00 to $15.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 6.38% from the stock’s current price.

Meridian Stock Up 0.9 %

MRBK stock opened at $14.10 on Tuesday. The stock has a market capitalization of $157.78 million, a P/E ratio of 13.96 and a beta of 0.75. The business has a fifty day moving average price of $12.38 and a 200-day moving average price of $10.97. Meridian has a 1-year low of $8.26 and a 1-year high of $14.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.95.

Meridian (NASDAQ:MRBK) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. Meridian had a return on equity of 7.07% and a net margin of 6.00%. The company had revenue of $51.15 million during the quarter, compared to the consensus estimate of $26.57 million. Equities analysts forecast that Meridian will post 1.25 earnings per share for the current fiscal year.

Institutional Trading of Meridian

An institutional investor recently raised its position in Meridian stock. Dimensional Fund Advisors LP boosted its stake in shares of Meridian Co. (NASDAQ:MRBK) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,249 shares of the company’s stock after buying an additional 10,514 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.53% of Meridian worth $1,801,000 as of its most recent SEC filing. 58.56% of the stock is owned by institutional investors.

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.