Meridian Co. (MRBK) to Issue Quarterly Dividend of $0.13 on February 18th

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 given a dividend of 0.125 per share on Tuesday, February 18th. This represents a $0.50 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, February 10th.

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

MRBK stock opened at $16.80 on Friday. The company has a fifty day moving average price of $15.29 and a 200-day moving average price of $13.51. Meridian has a 52-week low of $8.26 and a 52-week high of $17.33. 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 quick ratio of 0.95 and a current ratio of 0.97.

Meridian (NASDAQ:MRBK) last released its quarterly earnings data on Friday, January 24th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.14. Meridian had a net margin of 8.28% and a return on equity of 10.01%. As a group, equities analysts expect that Meridian will post 2.07 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. Piper Sandler boosted their target price on Meridian from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. DA Davidson lifted their target price on Meridian from $15.00 to $17.00 and gave the stock a “buy” 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.