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

Meridian Co. (NASDAQ:MRBK - Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Monday, May 13th will be paid a dividend of 0.125 per share on Monday, May 20th. This represents a $0.50 annualized dividend and a yield of 5.56%. The ex-dividend date of this dividend is Friday, May 10th.

Meridian has increased its dividend payment by an average of 58.7% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Meridian has a payout ratio of 30.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Meridian to earn $1.80 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 27.8%.

Meridian Stock Up 0.4 %

Shares of NASDAQ MRBK traded up $0.04 during trading hours on Wednesday, hitting $8.99. The company had a trading volume of 31,938 shares, compared to its average volume of 13,691. Meridian has a 1-year low of $8.26 and a 1-year high of $14.24. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. The firm's 50 day moving average is $9.37 and its 200-day moving average is $11.08. The stock has a market capitalization of $100.60 million, a P/E ratio of 8.56 and a beta of 0.70.

Meridian (NASDAQ:MRBK - Get Free Report) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $45.20 million during the quarter, compared to analysts' expectations of $23.68 million. Meridian had a net margin of 6.75% and a return on equity of 7.64%. On average, analysts expect that Meridian will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on MRBK shares. Piper Sandler cut Meridian from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $14.00 to $13.00 in a research report on Monday, January 29th. TheStreet downgraded Meridian from a "b-" rating to a "c" rating in a report on Friday, January 26th.

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.