Meridian Co. Declares Quarterly Dividend of $0.13 (NASDAQ:MRBK)

Meridian Co. (NASDAQ:MRBK) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Monday, May 13th will be given a dividend of 0.125 per share on Monday, May 20th. This represents a $0.50 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend is Friday, May 10th.

Meridian has raised its dividend by an average of 58.7% per year over the last three years and has increased its dividend every year for the last 1 years. Meridian has a payout ratio of 30.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Meridian to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 27.8%.

Meridian Stock Up 1.1 %

Shares of MRBK traded up $0.10 during trading hours on Wednesday, hitting $9.05. 2,469 shares of the company were exchanged, compared to its average volume of 13,335. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.97 and a current ratio of 0.98. The company has a market cap of $101.27 million, a PE ratio of 8.52 and a beta of 0.70. The firm’s 50 day moving average is $9.37 and its 200-day moving average is $11.09. Meridian has a 52 week low of $8.26 and a 52 week high of $14.24.

Meridian (NASDAQ:MRBK) last announced its earnings results on Friday, April 26th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Meridian had a return on equity of 7.64% and a net margin of 6.75%. The firm had revenue of $45.20 million during the quarter, compared to analysts’ expectations of $23.68 million. On average, equities research analysts forecast that Meridian will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler lowered shares of Meridian from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $14.00 to $13.00 in a research report on Monday, January 29th. TheStreet cut Meridian from a “b-” rating to a “c” rating in a research report on Friday, January 26th.

About Meridian

Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Florida, and Maryland. The company offers various deposit products, such as demand non-interest bearing, demand interest bearing, savings accounts, money market accounts, and time deposits.