Meridian (NASDAQ:MRBK) Stock Rating Lowered by DA Davidson

Meridian (NASDAQ:MRBK) was downgraded by investment analysts at DA Davidson from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Briefing.com reports. They currently have a $20.00 price objective on the stock. DA Davidson‘s target price indicates a potential upside of 7.70% from the stock’s current price.

Separately, Weiss Ratings upgraded Meridian from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 14th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Meridian presently has an average rating of “Hold” and an average target price of $20.50.

Meridian Trading Down 0.7%

NASDAQ:MRBK opened at $18.57 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $19.06 and its two-hundred day moving average is $19.23. Meridian has a 52 week low of $13.92 and a 52 week high of $21.67. The company has a market cap of $221.54 million, a PE ratio of 9.20 and a beta of 0.65.

Meridian (NASDAQ:MRBK) last issued its earnings results on Friday, October 30th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). Meridian had a return on equity of 12.29% and a net margin of 11.89%. The firm had revenue of $30.14 million during the quarter, compared to analyst estimates of $33.05 million. On average, analysts predict that Meridian will post 1.63 EPS for the current year.

Institutional Investors Weigh In On Meridian

A number of institutional investors have recently modified their holdings of the business. Hillsdale Investment Management Inc. acquired a new stake in Meridian during the first quarter worth about $345,000. Hsbc Holdings PLC acquired a new position in Meridian in the first quarter valued at approximately $416,000. Ancora Advisors LLC acquired a new position in Meridian in the second quarter valued at approximately $660,000. Squarepoint Ops LLC boosted its stake in Meridian by 103.9% in the second quarter. Squarepoint Ops LLC now owns 64,257 shares of the company’s stock valued at $1,287,000 after acquiring an additional 32,739 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Meridian by 9.8% in the first quarter. Dimensional Fund Advisors LP now owns 434,002 shares of the company’s stock valued at $8,229,000 after acquiring an additional 38,719 shares during the period. Institutional investors own 58.56% of the company’s stock.

Meridian Company Profile

Meridian Corporation is a bank holding company headquartered in Malvern, Pennsylvania. Through its principal subsidiary, Meridian Bank, the company provides commercial and community banking services to businesses, professionals and individuals in the Mid-Atlantic region.

Meridian Bank offers business lending, commercial real estate financing, construction loans, equipment financing, residential and consumer lending, deposit accounts, cash-management services and online banking. The company also provides mortgage banking and wealth management services, including investment and financial planning solutions.

Meridian was established in 2004 and serves customers through a network of banking offices in southeastern Pennsylvania, New Jersey and surrounding markets.