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

Meridian

26/07/2024 19:57

* Meridian Corp  MRBK.OQ  reported quarterly adjusted
earnings of
30 cents​​ per share for the quarter ended in January, lower
than the same quarter last year, when the company reported EPS
of 41 cents.  The mean expectation of three analysts for the
quarter was for earnings of 31 cents per share. Wall Street
expected results to range from 30 cents to 33 cents per share.
    * Revenue fell 0.5% to $26.09 million from a year ago;
analysts
expected $25.67 million. 
    * Meridian Corp's reported EPS for the quarter was 30
cents​.
    * The company reported quarterly net income of $3.33
million.
    * Meridian Corp shares had risen by 11.7% this quarter and
lost 15.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.5%
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 "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Meridian Corp is
$13.00 
This summary was machine generated from LSEG data July 26 at
06:57 p.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
 Jan. 1 0001       0.31           0.30           Missed
 Mar. 31 2024      0.24           0.24           Met
 Dec. 31 2023      0.28           0.05           Missed
 Sep. 30 2023      0.38           0.35           Missed