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

Meridian Co. (NASDAQ:MRBK) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date of this dividend is Friday, May 10th.

Meridian has raised its dividend by an average of 58.7% annually 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 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 Performance

NASDAQ MRBK traded up $0.04 during trading hours on Wednesday, reaching $8.99. 4,733 shares of the company were exchanged, compared to its average volume of 13,386. Meridian has a 1 year low of $8.26 and a 1 year high of $14.24. The business’s 50 day simple moving average is $9.37 and its 200-day simple moving average is $11.09. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $100.60 million, a P/E ratio of 8.52 and a beta of 0.70.

Meridian (NASDAQ:MRBK) last posted its quarterly earnings data 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. The business had revenue of $45.20 million during the quarter, compared to the consensus estimate of $23.68 million. Meridian had a net margin of 6.75% and a return on equity of 7.64%. On average, equities research analysts expect that Meridian will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.