Meridian Corp reports results for the quarter ended in September 30 - Earnings Summary

Meridian

27/10/2024 15:49

* Meridian Corp  MRBK.OQ  reported quarterly adjusted
earnings of
42 cents​​ per share for the quarter ended September 30, higher
than the same quarter last year, when the company reported EPS
of 35 cents.  The mean expectation of two analysts for the
quarter was for earnings of 35 cents per share. Wall Street
expected results to range from 34 cents to 36 cents per share.
    * Revenue rose 14.9% to $29.07 million from a year ago;
analysts
expected $26.54 million. 
    * Meridian Corp's reported EPS for the quarter was 42
cents​.
    * The company reported quarterly net income of $4.74
million.
    * Meridian Corp shares had risen by 2.7% this quarter and
lost 6.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 9.5%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

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

Wall Street's median 12-month price target for Meridian Corp is
$14.50 
This summary was machine generated from LSEG data October 27 at
03:49 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
 Sep. 30 2024      0.35           0.42           Beat
 Jun. 30 2024      0.31           0.30           Missed
 Mar. 31 2024      0.24           0.24           Met
 Dec. 31 2023      0.28           0.05           Missed