Meridian Co. (NASDAQ:MRBK - Get Free Report) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Monday, February 10th.
Meridian has increased its dividend by an average of 20.3% annually over the last three years. Meridian has a payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Meridian to earn $1.75 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 28.6%.
Meridian Stock Up 3.2 %
NASDAQ MRBK traded up $0.51 on Monday, hitting $16.41. 70,278 shares of the stock were exchanged, compared to its average volume of 37,345. Meridian has a fifty-two week low of $8.26 and a fifty-two week high of $17.33. The company has a 50-day moving average price of $15.08 and a 200-day moving average price of $13.21. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.30. The company has a market cap of $184.39 million, a PE ratio of 16.24 and a beta of 0.81.
Meridian (NASDAQ:MRBK - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.14. Meridian had a net margin of 6.00% and a return on equity of 6.99%. Sell-side analysts anticipate that Meridian will post 1.27 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price objective on Meridian from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. DA Davidson lifted their price objective on shares of Meridian from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th.
Read Our Latest Stock Analysis on Meridian
About Meridian
(
Get Free Report)
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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