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

Key Points

• Meridian Bank announced a quarterly dividend of $0.13, with an ex-dividend date of November 10th, and a yield of 3.3% based on current share price.
• The bank reported an EPS of $0.58 for the last quarter, exceeding analysts’ estimates and showing a net margin of 9.01% alongside a return on equity of 10.62%.
• Equities analysts have given Meridian Bank an average rating of "Buy" with a consensus price target of $17.50, indicating a positive outlook for the stock.

Meridian Bank (NASDAQ:MRBK - Get Free Report) announced a quarterly dividend on Thursday, October 23rd. Investors of record on Monday, November 10th will be given a dividend of 0.125 per share on Monday, November 17th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, November 10th.

Meridian Bank has a dividend payout ratio of 23.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Meridian Bank 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 Bank Stock Up 1.2%

NASDAQ:MRBK opened at $15.03 on Friday. The firm has a market cap of $169.84 million, a PE ratio of 9.34 and a beta of 0.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.97 and a quick ratio of 0.95. The company has a 50-day moving average of $15.31 and a 200 day moving average of $14.19. Meridian Bank has a 1-year low of $11.16 and a 1-year high of $17.33.

Meridian Bank (NASDAQ:MRBK - Get Free Report) last announced its earnings results on Thursday, October 23rd. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. The business had revenue of $33.07 million during the quarter, compared to the consensus estimate of $31.88 million. Meridian Bank had a net margin of 9.01% and a return on equity of 10.62%. As a group, research analysts anticipate that Meridian Bank will post 2.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MRBK shares. Weiss Ratings restated a "buy (b-)" rating on shares of Meridian Bank in a report on Wednesday, October 8th. DA Davidson upgraded shares of Meridian Bank to a "strong-buy" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $17.50.

Meridian Bank 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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