Meridian Co. (NASDAQ:MRBK - Get Free Report) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Tuesday, November 12th will be paid a dividend of 0.125 per share on Tuesday, November 19th. This represents a $0.50 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Tuesday, November 12th.
Meridian has increased its dividend by an average of 58.7% per year over the last three years. Meridian has a payout ratio of 27.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Meridian to earn $1.79 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 27.9%.
Meridian Stock Performance
MRBK traded up $0.21 on Friday, reaching $13.19. The stock had a trading volume of 30,400 shares, compared to its average volume of 13,392. Meridian has a 12-month low of $8.26 and a 12-month high of $14.24. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31. The business's 50-day moving average price is $12.19 and its two-hundred day moving average price is $10.87. The company has a market cap of $147.60 million, a P/E ratio of 14.03 and a beta of 0.75.
Meridian (NASDAQ:MRBK - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.07. Meridian had a net margin of 5.85% and a return on equity of 6.66%. The company had revenue of $51.15 million during the quarter, compared to analysts' expectations of $26.57 million. Sell-side analysts forecast that Meridian will post 1.25 earnings per share for the current year.
Analysts Set New Price Targets
Separately, Piper Sandler lifted their target price on shares of Meridian from $11.00 to $13.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th.
Read Our Latest Stock Report on MRBK
About Meridian
(
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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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