Meridian Bank (NASDAQ:MRBK) Receives Average Rating of “Buy” from Analysts

Meridian Bank (NASDAQ:MRBK) has earned an average broker rating score of 1.50 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and one has issued a strong buy rating on the company.

Brokers have set a 12 month consensus price objective of $22.00 for the company and are predicting that the company will post $0.39 earnings per share for the current quarter, according to Zacks. Zacks has also given Meridian Bank an industry rank of 150 out of 255 based on the ratings given to its competitors.

MRBK has been the topic of several research reports. Zacks Investment Research upgraded shares of Meridian Bank from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective on the stock in a report on Friday, November 1st. Keefe, Bruyette & Woods upgraded shares of Meridian Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 6th.

Shares of Meridian Bank stock traded down $0.19 during trading on Friday, reaching $18.70. 200 shares of the company traded hands, compared to its average volume of 5,598. The company has a 50 day moving average price of $17.77 and a 200-day moving average price of $17.42. Meridian Bank has a 1-year low of $16.15 and a 1-year high of $18.89. The firm has a market capitalization of $120.13 million, a PE ratio of 14.17 and a beta of -0.08.

Meridian Bank (NASDAQ:MRBK) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.11. The business had revenue of $19.09 million for the quarter. As a group, equities research analysts forecast that Meridian Bank will post 1.55 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Meridian Bank by 12.7% during the second quarter. BlackRock Inc. now owns 7,149 shares of the company’s stock worth $121,000 after buying an additional 808 shares during the last quarter. River Oaks Capital LLC raised its holdings in shares of Meridian Bank by 54.1% in the second quarter. River Oaks Capital LLC now owns 38,518 shares of the company’s stock valued at $651,000 after purchasing an additional 13,518 shares during the last quarter. Context BH Capital Management LP raised its holdings in shares of Meridian Bank by 1.0% in the second quarter. Context BH Capital Management LP now owns 61,420 shares of the company’s stock valued at $1,038,000 after purchasing an additional 600 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Meridian Bank by 7.0% in the second quarter. Vanguard Group Inc. now owns 140,136 shares of the company’s stock valued at $2,368,000 after purchasing an additional 9,200 shares during the last quarter. Finally, Maltese Capital Management LLC raised its holdings in shares of Meridian Bank by 9.4% in the second quarter. Maltese Capital Management LLC now owns 245,976 shares of the company’s stock valued at $4,157,000 after purchasing an additional 21,211 shares during the last quarter. Hedge funds and other institutional investors own 46.02% of the company’s stock.

Meridian Bank Company Profile

Meridian Corporation operates as the bank holding for Meridian Bank that provides commercial banking products and services for retail and commercial customers primarily in southeastern Pennsylvania, Delaware, and south New Jersey. It offers non-interest bearing deposits and time deposits, as well as interest checking, money market, and savings accounts; and commercial and industrial loans, commercial real estate loans, and consumer and home equity loans, as well as homeowner mortgages.

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