Meridian Co. (NASDAQ:MRBK – Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Monday, May 13th will be given 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 raised its dividend by an average of 58.7% per year 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% meaning 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 Price Performance
Meridian stock traded up $0.04 during mid-day trading on Wednesday, hitting $8.99. 4,733 shares of the company were exchanged, compared to its average volume of 13,386. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.97. The business’s 50 day simple moving average is $9.37 and its two-hundred day simple moving average is $11.09. The company has a market capitalization of $100.60 million, a P/E ratio of 8.52 and a beta of 0.70. Meridian has a 12-month low of $8.26 and a 12-month high of $14.24.
Analysts Set New Price Targets
A number of brokerages have commented on MRBK. TheStreet cut Meridian from a “b-” rating to a “c” rating in a research note on Friday, January 26th. Piper Sandler cut Meridian from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $14.00 to $13.00 in a research note on Monday, January 29th.
Get Our Latest Stock Report on MRBK
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.
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