Meridian Bank price target raised to $13 from $11 at Piper Sandler

Piper Sandler analyst Frank Schiraldi raised the firm’s price target on Meridian Bank to $13 from $11 and keeps a Neutral rating on the shares. The firm notes Meridian reported Q2 EPS of 30c, which it pegs as core. This represents a penny miss versus both Piper and consensus’ at 31c. That being said, it was a strong revenue quarter with results beating the firm’s by 4c off both strength in net interest income and mortgage.