Brokers Set Expectations for Meridian Co.’s FY2022 Earnings (NASDAQ:MRBK)

Meridian Co. (NASDAQ:MRBKGet Rating) – Investment analysts at DA Davidson reduced their FY2022 EPS estimates for Meridian in a research report issued to clients and investors on Tuesday, August 2nd. DA Davidson analyst M. Navas now anticipates that the company will earn $3.45 per share for the year, down from their previous estimate of $3.55. DA Davidson has a “Buy” rating on the stock. The consensus estimate for Meridian’s current full-year earnings is $3.71 per share. DA Davidson also issued estimates for Meridian’s FY2023 earnings at $4.05 EPS.

Meridian (NASDAQ:MRBKGet Rating) last issued its earnings results on Monday, August 1st. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. Meridian had a net margin of 20.86% and a return on equity of 17.84%.

Meridian Stock Performance

Shares of NASDAQ MRBK opened at $28.70 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $175.47 million, a P/E ratio of 6.24 and a beta of 0.44. Meridian has a 12 month low of $25.51 and a 12 month high of $39.78. The stock has a 50 day moving average of $29.59 and a 200-day moving average of $32.24.

Institutional Trading of Meridian

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG increased its position in Meridian by 19.2% during the first quarter. UBS Group AG now owns 2,981 shares of the company’s stock worth $95,000 after acquiring an additional 481 shares during the period. Cornerstone Advisory LLC bought a new stake in shares of Meridian in the fourth quarter valued at approximately $116,000. Great Valley Advisor Group Inc. acquired a new stake in Meridian during the fourth quarter worth approximately $233,000. State Street Corp raised its holdings in Meridian by 17.3% in the 1st quarter. State Street Corp now owns 12,868 shares of the company’s stock valued at $413,000 after acquiring an additional 1,898 shares in the last quarter. Finally, LSV Asset Management bought a new stake in shares of Meridian during the 4th quarter valued at $550,000. Institutional investors own 57.00% of the company’s stock.

Meridian Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Monday, August 15th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, August 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.79%. Meridian’s dividend payout ratio (DPR) is 17.39%.

About Meridian

(Get Rating)

Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, 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.

Further Reading

Earnings History and Estimates for Meridian (NASDAQ:MRBK)

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