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

Meridian

30/04/2024 13:00

* Meridian Corp  MRBK.OQ  reported quarterly adjusted
earnings of
24 cents​​ per share for the quarter ended in March, lower than
the same quarter last year, when the company reported EPS of 34
cents.  The mean expectation of three analysts for the quarter
was for earnings of 24 cents per share. Wall Street expected
results to range from 22 cents to 28 cents per share.
    * Revenue rose 1.1% to $24.59 million from a year ago;
analysts
expected $24.00 million. 
    * Meridian Corp's reported EPS for the quarter was 24
cents​.
    * The company reported quarterly net income of $2.68
million.
    * Meridian Corp shares had fallen by 7.1% this quarter and
lost 33.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged 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 April 30 at
12:00 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
 Mar. 31 2024      0.24           0.24           Met
 Dec. 31 2023      0.28           0.05           Missed
 Sep. 30 2023      0.38           0.35           Missed
 Jun. 30 2023      0.38           0.41           Beat