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

Meridian Co. (NASDAQ:MRBK - Get Free Report) announced a quarterly dividend on Thursday, April 24th, Wall Street Journal reports. Investors of record on Monday, May 12th will be paid a dividend of 0.125 per share on Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Monday, May 12th.

Meridian has increased its dividend by an average of 20.3% annually over the last three years. Meridian has a dividend payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Equities 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

MRBK stock traded up $0.34 during midday trading on Friday, reaching $13.62. The company had a trading volume of 3,501 shares, compared to its average volume of 30,219. Meridian has a 1 year low of $8.69 and a 1 year high of $17.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.95. The company has a market capitalization of $153.65 million, a P/E ratio of 9.40 and a beta of 0.68. The firm has a 50-day moving average price of $13.94 and a 200-day moving average price of $14.66.

Meridian (NASDAQ:MRBK - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.12). Meridian had a net margin of 8.28% and a return on equity of 10.01%. The firm had revenue of $27.10 million for the quarter, compared to analysts' expectations of $27.93 million. On average, research analysts anticipate that Meridian will post 2.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

MRBK has been the subject of a number of recent research reports. DA Davidson dropped their target price on Meridian from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday. Piper Sandler lowered their price objective on shares of Meridian from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Tuesday.

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.