Meridian Bank (NASDAQ:MRBK) to Issue $0.14 Quarterly Dividend

Key Points

• Meridian Bank declared a quarterly dividend of $0.14 per share (ex-dividend and record date: May 4; payment date: May 11), implying an annualized yield of about 2.8%.
• The dividend appears well-covered, with a current payout ratio of 26.4%, average dividend growth of ~0.3% annually over three years, and analysts projecting $2.65 EPS next year (implying a future payout ratio near 21.1% on a $0.56 annual dividend).
• Meridian recently missed the quarter, reporting $0.39 EPS versus estimates of $0.48 and revenue of $30.24M versus $31.79M, though it still showed an ROE of 11.8% and a net margin of 10.6%.

Meridian Bank (NASDAQ:MRBK - Get Free Report) announced a quarterly dividend on Thursday, April 23rd. Investors of record on Monday, May 4th will be paid a dividend of 0.14 per share on Monday, May 11th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, May 4th.

Meridian Bank has raised its dividend by an average of 0.3%annually over the last three years. Meridian Bank has a dividend payout ratio of 26.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Meridian Bank to earn $2.65 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 21.1%.

Meridian Bank Price Performance

Shares of MRBK opened at $20.21 on Friday. The firm has a 50-day simple moving average of $19.55 and a two-hundred day simple moving average of $17.66. The stock has a market cap of $240.09 million, a PE ratio of 10.69 and a beta of 0.75. Meridian Bank has a 1-year low of $11.16 and a 1-year high of $21.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.96.

Meridian Bank (NASDAQ:MRBK - Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.09). Meridian Bank had a return on equity of 11.81% and a net margin of 10.63%.The company had revenue of $30.24 million for the quarter, compared to analysts' expectations of $31.79 million. As a group, analysts forecast that Meridian Bank will post 2.3 EPS for the current year.

Meridian Bank Company Profile

Meridian Bank, a Pennsylvania-chartered institution founded in 1993 and headquartered in Philadelphia, operates as a full-service community bank serving the Greater Philadelphia region. As a wholly owned subsidiary of Meridian Bancorp, Inc NASDAQ: MRBK, the bank maintains a network of branch locations complemented by online and mobile platforms to meet the evolving needs of individual and business customers.

On the consumer side, Meridian Bank offers a comprehensive suite of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside personal lending solutions such as home equity lines of credit, residential mortgage loans and unsecured consumer loans.

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