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

Meridian Co. (NASDAQ:MRBK) declared a quarterly dividend on Tuesday, October 22nd,Zacks Dividends reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 0.125 per share on Tuesday, November 19th. This represents a $0.50 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Tuesday, November 12th.

Meridian has increased its dividend payment by an average of 58.7% annually over the last three years. Meridian has a dividend payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Meridian to earn $1.83 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 27.3%.

Meridian Stock Performance

NASDAQ MRBK opened at $13.79 on Friday. The firm has a market cap of $154.32 million, a P/E ratio of 13.65 and a beta of 0.74. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $12.71 and its 200-day moving average is $11.23. Meridian has a 12-month low of $8.26 and a 12-month high of $14.45.

Meridian (NASDAQ:MRBK) last issued its earnings results on Thursday, October 24th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The business had revenue of $51.15 million for the quarter, compared to analysts’ expectations of $26.57 million. Meridian had a net margin of 6.00% and a return on equity of 7.07%. Sell-side analysts predict that Meridian will post 1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MRBK shares. Piper Sandler increased their price objective on Meridian from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. DA Davidson increased their price target on shares of Meridian from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, October 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.