Meridian Bank (MRBK) to Distribute Quarterly Dividend of $0.14 on August 17th

Meridian Bank (NASDAQ:MRBK) announced a quarterly dividend on Thursday, July 30th. Investors of record on Monday, August 10th will be paid a dividend of 0.14 per share on Monday, August 17th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, August 10th.

Meridian Bank has raised its dividend payment by an average of 0.3%annually over the last three years. Meridian Bank has a dividend payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Meridian Bank to earn $2.40 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 23.3%.

Meridian Bank Stock Performance

MRBK opened at $19.70 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average price is $19.66 and its two-hundred day moving average price is $19.27. The firm has a market capitalization of $234.23 million, a P/E ratio of 9.56 and a beta of 0.66. Meridian Bank has a 12-month low of $13.81 and a 12-month high of $21.67.

Meridian Bank (NASDAQ:MRBK) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Meridian Bank had a return on equity of 12.43% and a net margin of 11.89%.The business had revenue of $32.67 million for the quarter, compared to analyst estimates of $34.31 million. On average, equities analysts forecast that Meridian Bank will post 1.73 earnings per share for the current year.

Institutional Investors Weigh In On Meridian Bank

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC acquired a new position in Meridian Bank in the first quarter worth $209,000. Goldman Sachs Group Inc. lifted its position in Meridian Bank by 114.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 83,179 shares of the company’s stock worth $1,198,000 after buying an additional 44,332 shares in the last quarter. Jane Street Group LLC grew its holdings in Meridian Bank by 178.7% during the 1st quarter. Jane Street Group LLC now owns 65,483 shares of the company’s stock worth $943,000 after acquiring an additional 41,984 shares during the last quarter. Geode Capital Management LLC increased its position in Meridian Bank by 110.9% in the 2nd quarter. Geode Capital Management LLC now owns 212,905 shares of the company’s stock valued at $2,745,000 after acquiring an additional 111,939 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Meridian Bank by 26,887.5% in the second quarter. JPMorgan Chase & Co. now owns 4,318 shares of the company’s stock worth $56,000 after acquiring an additional 4,302 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

About Meridian Bank

Meridian Bank, a Pennsylvania-chartered institution founded in 1993 and headquartered in Philadelphia, operates as a full-service community bank serving the Greater Philadelphia region. As a wholly owned subsidiary of Meridian Bancorp, Inc (NASDAQ: MRBK), the bank maintains a network of branch locations complemented by online and mobile platforms to meet the evolving needs of individual and business customers.

On the consumer side, Meridian Bank offers a comprehensive suite of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside personal lending solutions such as home equity lines of credit, residential mortgage loans and unsecured consumer loans.