Analysts Anticipate Meridian Bank (NASDAQ:MRBK) to Post $0.34 EPS

Shares of Meridian Bank (NASDAQ:MRBK) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokers have set a 1-year consensus price objective of $20.00 for the company and are forecasting that the company will post $0.34 EPS for the current quarter, according to Zacks. Zacks has also assigned Meridian Bank an industry rank of 188 out of 256 based on the ratings given to related companies.

Separately, Zacks Investment Research raised shares of Meridian Bank from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd.

NASDAQ MRBK opened at $17.29 on Wednesday. Meridian Bank has a 12-month low of $15.26 and a 12-month high of $18.88. The firm has a market capitalization of $110.83 million, a price-to-earnings ratio of 13.10, a PEG ratio of 1.49 and a beta of -0.07.

Meridian Bank (NASDAQ:MRBK) last released its quarterly earnings results on Thursday, May 23rd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.09. The firm had revenue of $14.92 million during the quarter, compared to analysts’ expectations of $15.08 million. As a group, sell-side analysts anticipate that Meridian Bank will post 1.4 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Banc Funds Co. LLC lifted its position in Meridian Bank by 5.8% during the first quarter. Banc Funds Co. LLC now owns 477,688 shares of the company’s stock valued at $8,617,000 after purchasing an additional 26,172 shares during the period. Punch & Associates Investment Management Inc. lifted its position in Meridian Bank by 18.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 21,500 shares of the company’s stock valued at $388,000 after purchasing an additional 3,400 shares during the period. BlackRock Inc. lifted its position in Meridian Bank by 15.6% during the first quarter. BlackRock Inc. now owns 6,341 shares of the company’s stock valued at $114,000 after purchasing an additional 856 shares during the period. Finally, Vanguard Group Inc lifted its position in Meridian Bank by 0.5% during the third quarter. Vanguard Group Inc now owns 130,736 shares of the company’s stock valued at $2,248,000 after purchasing an additional 600 shares during the period. 45.96% of the stock is currently owned by hedge funds and other institutional investors.

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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