Meridian Co. (NASDAQ:MRBK – Get Free Report) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Monday, May 13th will be paid a dividend of 0.125 per share on Monday, May 20th. This represents a $0.50 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date is Friday, May 10th.
Meridian has increased its dividend payment by an average of 58.7% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Meridian has a payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Meridian to earn $1.80 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 27.8%.
Meridian Price Performance
MRBK opened at $8.99 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $100.56 million, a price-to-earnings ratio of 8.56 and a beta of 0.70. The business’s fifty day simple moving average is $9.37 and its 200-day simple moving average is $11.08. Meridian has a 12-month low of $8.26 and a 12-month high of $14.24.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on MRBK. Piper Sandler downgraded Meridian from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $14.00 to $13.00 in a report on Monday, January 29th. TheStreet downgraded Meridian from a “b-” rating to a “c” rating in a report on Friday, January 26th.
View Our Latest Report on MRBK
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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