Meridian Corp reports results for the quarter ended in December - Earnings Summary

Meridian

29/01/2024 11:59

* Meridian Corp  MRBK.OQ  reported quarterly adjusted
earnings of
5 cents​​ per share for the quarter ended in December, lower
than the same quarter last year, when the company reported EPS
of 39 cents.  The mean expectation of three analysts for the
quarter was for earnings of 28 cents per share. Wall Street
expected results to range from 25 cents to 30 cents per share.
    * Revenue fell 5.5% to $25.06 million from a year ago;
analysts
expected $24.48 million. 
    * Meridian Corp's reported EPS for the quarter was 5 cents​.
    * The company reported quarterly net income of $571
thousand.
    * Meridian Corp shares had fallen by 8.9% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 21.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Meridian Corp is
$13.00 
This summary was machine generated from LSEG data January 29 at
11:59 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.28           0.05           Missed
 Sep. 30 2023      0.38           0.35           Missed
 Jun. 30 2023      0.38           0.41           Beat
 Mar. 31 2023      0.32           0.34           Beat