Meridian (NASDAQ:MRBK – Free Report) had its price objective hoisted by Piper Sandler from $11.00 to $13.00 in a research report released on Tuesday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.
Meridian Price Performance
MRBK opened at $11.59 on Tuesday. The company has a market capitalization of $129.65 million, a price-to-earnings ratio of 11.04 and a beta of 0.74. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $10.75 and a 200-day moving average price of $10.24. Meridian has a twelve month low of $8.26 and a twelve month high of $14.24.
Meridian Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Monday, August 12th will be paid a $0.125 dividend. The ex-dividend date is Monday, August 12th. This represents a $0.50 annualized dividend and a dividend yield of 4.31%. Meridian’s payout ratio is 47.62%.
Hedge Funds Weigh In On Meridian
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.
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