Meridian Co. (NASDAQ:MRBK - Get Free Report) announced a quarterly dividend on Thursday, April 24th, Wall Street Journal reports. Stockholders 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 dividend yield of 3.67%. The ex-dividend date is Monday, May 12th.
Meridian has increased its dividend by an average of 20.3% per year over the last three years. Meridian has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 2.6 %
MRBK traded up $0.35 during mid-day trading on Friday, hitting $13.63. 45,388 shares of the stock were exchanged, compared to its average volume of 30,446. The company has a market cap of $153.81 million, a PE ratio of 9.40 and a beta of 0.71. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. The firm's fifty day moving average is $13.90 and its two-hundred day moving average is $14.68. Meridian has a 1-year low of $8.80 and a 1-year high of $17.33.
Meridian (NASDAQ:MRBK - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.12). Meridian had a net margin of 8.28% and a return on equity of 10.01%. The business had revenue of $27.10 million during the quarter, compared to analysts' expectations of $27.93 million. Equities analysts forecast that Meridian will post 2.07 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts have recently issued reports on MRBK shares. DA Davidson reduced their price objective on Meridian from $19.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday. Piper Sandler reduced their price target on Meridian from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday.
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Meridian Company Profile
(
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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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