Shares of Meridian Bank (NASDAQ:MRBK) have been given a consensus broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. Meridian Bank’s rating score has declined by 50% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 1-year consensus target price of $21.00 for the company and are forecasting that the company will post $0.37 EPS for the current quarter, according to Zacks. Zacks has also assigned Meridian Bank an industry rank of 150 out of 256 based on the ratings given to related companies.
MRBK has been the subject of several recent analyst reports. ValuEngine downgraded Meridian Bank from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods upgraded Meridian Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 6th. Finally, Zacks Investment Research upgraded Meridian Bank from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Tuesday, August 6th.
MRBK stock remained flat at $$17.93 during midday trading on Friday. The company’s stock had a trading volume of 100 shares, compared to its average volume of 8,124. Meridian Bank has a 1-year low of $15.26 and a 1-year high of $18.88. The company has a market capitalization of $114.68 million, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.54 and a beta of -0.07. The business has a 50 day moving average price of $17.16 and a 200 day moving average price of $17.36.
Meridian Bank (NASDAQ:MRBK) last posted its quarterly earnings results on Thursday, May 23rd. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.09. The business had revenue of $14.92 million during the quarter, compared to the consensus estimate of $15.08 million. Research analysts anticipate that Meridian Bank will post 1.45 earnings per share for the current fiscal year.
About Meridian Bank
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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