Meridian Bank (NASDAQ:MRBK) – Research analysts at Piper Sandler increased their Q4 2020 earnings per share estimates for shares of Meridian Bank in a research report issued on Monday, June 29th. Piper Sandler analyst F. Schiraldi now anticipates that the company will post earnings per share of $0.42 for the quarter, up from their prior estimate of $0.41. Piper Sandler also issued estimates for Meridian Bank’s Q2 2021 earnings at $0.51 EPS.
Meridian Bank (NASDAQ:MRBK) last released its earnings results on Monday, April 27th. The company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.16. The company had revenue of $20.02 million for the quarter, compared to the consensus estimate of $17.11 million.
Meridian Bank stock opened at $16.60 on Tuesday. Meridian Bank has a twelve month low of $10.68 and a twelve month high of $20.89. The firm has a 50 day moving average price of $16.24 and a 200-day moving average price of $17.18. The company has a market capitalization of $100.25 million, a P/E ratio of 9.71 and a beta of 0.63.
In other Meridian Bank news, Director Robert T. Holland purchased 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were bought at an average cost of $16.54 per share, for a total transaction of $29,772.00. Also, CEO Christopher J. Annas purchased 3,360 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price of $15.50 per share, for a total transaction of $52,080.00. Insiders have purchased a total of 6,160 shares of company stock worth $97,352 over the last 90 days. 12.69% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. UBS Group AG lifted its stake in Meridian Bank by 30.8% in the 1st quarter. UBS Group AG now owns 3,271 shares of the company’s stock worth $45,000 after purchasing an additional 771 shares in the last quarter. State Street Corp purchased a new stake in Meridian Bank in the 1st quarter worth approximately $141,000. BlackRock Inc. lifted its stake in Meridian Bank by 149.4% in the 1st quarter. BlackRock Inc. now owns 17,021 shares of the company’s stock worth $233,000 after purchasing an additional 10,197 shares in the last quarter. Ancora Advisors LLC lifted its stake in Meridian Bank by 3.0% in the 4th quarter. Ancora Advisors LLC now owns 23,309 shares of the company’s stock worth $471,000 after purchasing an additional 684 shares in the last quarter. Finally, Fourthstone LLC lifted its stake in Meridian Bank by 1.0% in the 1st quarter. Fourthstone LLC now owns 101,739 shares of the company’s stock worth $1,392,000 after purchasing an additional 1,039 shares in the last quarter. Institutional investors own 41.14% of the company’s stock.
About Meridian Bank
Meridian Corporation operates as the bank holding for Meridian Bank that provides commercial banking products and services for small and middle market businesses primarily in southeast Pennsylvania, Delaware, and southern New Jersey. The company offers non-interest and interest checking deposits and time deposits, as well as money market, and savings accounts; and commercial and industrial loans, commercial real estate loans, and consumer and home equity loans, as well as business lines of credit, term loans, small business lending, lease financing, and shared national credits.
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