Meridian Co. (NASDAQ:MRBK – Get Free Report) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date is Friday, May 10th.
Meridian has increased its dividend payment by an average of 58.7% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Meridian has a dividend payout ratio of 30.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance
NASDAQ:MRBK traded down $0.01 during mid-day trading on Wednesday, reaching $8.94. The company’s stock had a trading volume of 3,657 shares, compared to its average volume of 13,373. The stock has a market cap of $100.04 million, a P/E ratio of 8.52 and a beta of 0.70. The firm’s fifty day moving average price is $9.37 and its two-hundred day moving average price is $11.09. Meridian has a 12-month low of $8.26 and a 12-month high of $14.24. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.32.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. TheStreet cut 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 dropped their price objective for the company from $14.00 to $13.00 in a report on Monday, January 29th.
Check Out Our Latest Analysis on Meridian
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.
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