Meridian Co. (NASDAQ:MRBK – Get Free Report) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Monday, May 13th will be paid a dividend of 0.125 per share on Monday, May 20th. This represents a $0.50 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date is Friday, May 10th.
Meridian has increased its dividend by an average of 58.7% annually over the last three years and has increased its dividend every year for the last 1 years. Meridian has a dividend payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Equities 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
Shares of NASDAQ:MRBK opened at $8.99 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $100.56 million, a PE ratio of 8.56 and a beta of 0.70. Meridian has a twelve month low of $8.26 and a twelve month high of $14.24. The company has a 50-day moving average price of $9.37 and a two-hundred day moving average price of $11.08.
Analysts Set New Price Targets
MRBK has been the subject of a number of research reports. TheStreet lowered shares of Meridian from a “b-” rating to a “c” rating in a research report on Friday, January 26th. Piper Sandler downgraded shares of Meridian from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $14.00 to $13.00 in a report on Monday, January 29th.
View Our Latest 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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