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

Meridian Co. (NASDAQ:MRBK) announced a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Shareholders of record on Monday, February 10th will be paid a dividend of 0.125 per share on Tuesday, February 18th. This represents a $0.50 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Monday, February 10th.

Meridian has increased its dividend payment by an average of 20.3% annually over the last three years. Meridian has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

NASDAQ MRBK opened at $16.80 on Friday. The company has a market capitalization of $188.83 million, a P/E ratio of 11.59 and a beta of 0.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.95. Meridian has a 1-year low of $8.26 and a 1-year high of $17.33. The business has a 50 day moving average price of $15.29 and a 200 day moving average price of $13.51.

Meridian (NASDAQ:MRBK) last posted its quarterly earnings data on Friday, January 24th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. Meridian had a return on equity of 10.01% and a net margin of 8.28%. Sell-side analysts expect that Meridian will post 2.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on MRBK. DA Davidson increased their target price on Meridian from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Piper Sandler increased their target price on Meridian from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th.

About Meridian

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.