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

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

Meridian has increased its dividend by an average of 58.7% annually over the last three years. Meridian has a payout ratio of 27.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NASDAQ MRBK traded up $0.21 during mid-day trading on Friday, hitting $13.19. 30,400 shares of the company’s stock traded hands, compared to its average volume of 13,392. The company’s 50-day moving average is $12.19 and its two-hundred day moving average is $10.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.95. The company has a market capitalization of $147.60 million, a P/E ratio of 14.03 and a beta of 0.75. Meridian has a 1 year low of $8.26 and a 1 year high of $14.24.

Meridian (NASDAQ:MRBK) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 anticipate that Meridian will post 1.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their price objective on shares of Meridian from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report 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.