Q3 2024 Earnings Forecast for Meridian Co. Issued By DA Davidson (NASDAQ:MRBK)

Meridian Co. (NASDAQ:MRBK) – Analysts at DA Davidson lowered their Q3 2024 earnings per share estimates for Meridian in a note issued to investors on Thursday, October 3rd. DA Davidson analyst M. Navas now forecasts that the company will post earnings per share of $0.36 for the quarter, down from their previous forecast of $0.38. The consensus estimate for Meridian’s current full-year earnings is $1.25 per share.

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

Meridian Price Performance

Shares of NASDAQ:MRBK opened at $13.05 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $11.60 and a 200 day moving average price of $10.52. Meridian has a 52 week low of $8.26 and a 52 week high of $14.24. The company has a market cap of $145.98 million, a P/E ratio of 12.43 and a beta of 0.75.

Meridian (NASDAQ:MRBK) last released its earnings results on Friday, July 26th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). Meridian had a return on equity of 6.66% and a net margin of 5.85%. The firm had revenue of $26.09 million during the quarter, compared to analyst estimates of $25.57 million.

Institutional Trading of Meridian

A number of institutional investors have recently added to or reduced their stakes in MRBK. Dimensional Fund Advisors LP lifted its position in shares of Meridian by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 171,249 shares of the company’s stock valued at $1,801,000 after acquiring an additional 10,514 shares during the period. Acadian Asset Management LLC raised its holdings in Meridian by 4.6% during the first quarter. Acadian Asset Management LLC now owns 54,409 shares of the company’s stock worth $538,000 after purchasing an additional 2,396 shares during the last quarter. Finally, Borer Denton & Associates Inc. acquired a new position in Meridian during the fourth quarter worth $476,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Meridian Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.83%. Meridian’s dividend payout ratio is presently 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.