Meridian Co. Expected to Post Q2 2024 Earnings of $0.33 Per Share (NASDAQ:MRBK)

Meridian Co. (NASDAQ:MRBK) – Stock 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 expects that the company will earn $0.33 per share for the quarter. The consensus estimate for Meridian’s current full-year earnings is $1.38 per share. DA Davidson also issued estimates for Meridian’s FY2024 earnings at $1.40 EPS.

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

Several other analysts have also commented on the stock. TheStreet lowered shares of Meridian from a “b-” rating to a “c” rating in a research report on Friday, January 26th. Piper Sandler cut Meridian from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $14.00 to $13.00 in a research report on Monday, January 29th.

Meridian Price Performance

NASDAQ:MRBK opened at $8.75 on Friday. The company has a 50 day moving average price of $9.40 and a 200-day moving average price of $11.08. Meridian has a 1-year low of $7.80 and a 1-year high of $14.24. The firm has a market cap of $97.91 million, a price-to-earnings ratio of 8.33 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.97.

Institutional Investors Weigh In On Meridian

A number of institutional investors have recently added to or reduced their stakes in MRBK. Meridian Wealth Partners LLC lifted its holdings in Meridian by 11.8% during the third quarter. Meridian Wealth Partners LLC now owns 191,369 shares of the company’s stock valued at $1,874,000 after purchasing an additional 20,138 shares in the last quarter. Borer Denton & Associates Inc. acquired a new position in shares of Meridian during the 4th quarter worth about $476,000. Banc Funds Co. LLC lifted its stake in Meridian by 7.4% in the 4th quarter. Banc Funds Co. LLC now owns 782,678 shares of the company’s stock valued at $10,879,000 after buying an additional 53,990 shares in the last quarter. Strid Group LLC acquired a new stake in Meridian in the 1st quarter worth about $431,000. Finally, LSV Asset Management boosted its holdings in Meridian by 3.5% in the 4th quarter. LSV Asset Management now owns 92,822 shares of the company’s stock worth $1,290,000 after buying an additional 3,114 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Meridian Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend 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.