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

Meridian Co. (NASDAQ:MRBK) declared a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Investors of record on Monday, February 10th will be paid a dividend of 0.125 per share on Tuesday, February 18th. This represents a $0.50 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, February 10th.

Meridian has increased its dividend by an average of 20.3% per year over the last three years. Meridian has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Meridian to earn $2.02 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 24.8%.

Meridian Trading Down 0.3 %

Meridian stock opened at $16.80 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $188.83 million, a price-to-earnings ratio of 11.59 and a beta of 0.83. Meridian has a 12 month low of $8.26 and a 12 month high of $17.33. The business’s fifty day simple moving average is $15.29 and its two-hundred day simple moving average is $13.51.

Meridian (NASDAQ:MRBK) last announced its quarterly earnings results on Friday, January 24th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. Meridian had a return on equity of 10.01% and a net margin of 8.28%. As a group, equities analysts predict that Meridian will post 2.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. DA Davidson lifted their price target on shares of Meridian from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Piper Sandler lifted their target price on Meridian from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th.

Meridian Company Profile

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.