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

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

Meridian has increased its dividend payment by an average of 20.3% annually over the last three years. Meridian has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of Meridian stock opened at $16.80 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 0.97. Meridian has a 52-week low of $8.26 and a 52-week high of $17.33. The company has a fifty day moving average of $15.29 and a 200-day moving average of $13.51. The stock has a market capitalization of $188.83 million, a price-to-earnings ratio of 11.59 and a beta of 0.83.

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

Wall Street Analysts Forecast Growth

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