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

Meridian Co. (NASDAQ:MRBK) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Tuesday, November 12th will be given a dividend of 0.125 per share on Tuesday, November 19th. This represents a $0.50 annualized dividend and a yield of 3.79%. The ex-dividend date is Tuesday, November 12th.

Meridian has raised its dividend payment by an average of 58.7% per year over the last three years. Meridian has a dividend payout ratio of 27.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Meridian to earn $1.79 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 27.9%.

Meridian Stock Performance

MRBK traded up $0.21 during trading on Friday, reaching $13.19. The company’s stock had a trading volume of 30,400 shares, compared to its average volume of 13,392. The company has a market capitalization of $147.60 million, a price-to-earnings ratio of 14.03 and a beta of 0.75. The company’s fifty day moving average price is $12.19 and its 200-day moving average price is $10.85. Meridian has a 52-week low of $8.26 and a 52-week high of $14.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.95 and a current ratio of 0.97.

Meridian (NASDAQ:MRBK) last issued its earnings results on Thursday, October 24th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.07. Meridian had a net margin of 5.85% and a return on equity of 6.66%. The company had revenue of $51.15 million for the quarter, compared to analyst estimates of $26.57 million. On average, equities analysts forecast that Meridian will post 1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Piper Sandler raised their price objective on shares of Meridian from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th.

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.