Meridian (NASDAQ:MRBK – Free Report) had its price target increased by DA Davidson from $15.00 to $17.00 in a report published on Tuesday, Benzinga reports. DA Davidson currently has a buy rating on the stock. DA Davidson also issued estimates for Meridian’s Q4 2024 earnings at $0.34 EPS and FY2025 earnings at $1.90 EPS.
Separately, Piper Sandler raised their price objective on Meridian from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday.
Read Our Latest Stock Report on Meridian
Meridian Stock Performance
Meridian (NASDAQ:MRBK – Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.42 EPS for the quarter, topping 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 analyst estimates of $26.57 million. As a group, research analysts expect that Meridian will post 1.29 earnings per share for the current year.
Meridian Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be issued a $0.125 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.50 annualized dividend and a yield of 3.61%. Meridian’s dividend payout ratio (DPR) is presently 49.50%.
Institutional Investors Weigh In On Meridian
An institutional investor recently raised its position in Meridian stock. Acadian Asset Management LLC increased its position in Meridian Co. (NASDAQ:MRBK – Free Report) by 4.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,409 shares of the company’s stock after acquiring an additional 2,396 shares during the period. Acadian Asset Management LLC owned about 0.49% of Meridian worth $538,000 at the end of the most recent reporting period. 58.56% of the stock is currently owned by institutional investors and hedge funds.
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.
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