Brokers Set Expectations for Meridian Co.’s Q3 2024 Earnings (NASDAQ:MRBK)

Meridian Co. (NASDAQ:MRBK) – Equities researchers at DA Davidson issued their Q3 2024 earnings per share estimates for shares of Meridian in a report released on Thursday, August 1st. DA Davidson analyst M. Navas forecasts that the company will earn $0.38 per share for the quarter. The consensus estimate for Meridian’s current full-year earnings is $1.25 per share. DA Davidson also issued estimates for Meridian’s FY2024 earnings at $1.25 EPS and FY2025 earnings at $1.80 EPS.

Separately, Piper Sandler increased their price target on shares of Meridian from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th.

Meridian Stock Down 0.9 %

MRBK opened at $11.59 on Friday. The firm has a 50-day simple moving average of $10.75 and a two-hundred day simple moving average of $10.22. Meridian has a 52 week low of $8.26 and a 52 week high of $14.24. The company has a market capitalization of $129.69 million, a PE ratio of 11.04 and a beta of 0.74. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.31.

Meridian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 12th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.31%. The ex-dividend date is Monday, August 12th. Meridian’s payout ratio is currently 47.62%.

Institutional Trading of Meridian

Several institutional investors have recently added to or reduced their stakes in MRBK. Acadian Asset Management LLC raised its stake in Meridian by 4.6% in the first quarter. Acadian Asset Management LLC now owns 54,409 shares of the company’s stock worth $538,000 after buying an additional 2,396 shares in the last quarter. LSV Asset Management raised its stake in Meridian by 3.5% in the fourth 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 in the last quarter. Borer Denton & Associates Inc. acquired a new position in shares of Meridian during the fourth quarter worth $476,000. Strid Group LLC acquired a new position in shares of Meridian during the first quarter worth $431,000. Finally, Mendon Capital Advisors Corp acquired a new position in shares of Meridian during the fourth quarter worth $670,000. Institutional investors own 58.56% of the company’s stock.

About Meridian

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.