Meridian Co. (NASDAQ:MRBK – Get Free Report) declared a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Shareholders of record on Monday, February 10th will be paid a dividend of 0.125 per share on Tuesday, February 18th. This represents a $0.50 annualized dividend and a yield of 2.98%. The ex-dividend date is Monday, February 10th.
Meridian has increased its dividend payment by an average of 20.3% per year over the last three years. Meridian has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. 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 Stock Down 0.3 %
Shares of NASDAQ MRBK opened at $16.80 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.95. The stock has a market capitalization of $188.83 million, a PE ratio of 11.59 and a beta of 0.83. Meridian has a one year low of $8.26 and a one year high of $17.33. The business’s fifty day moving average price is $15.29 and its 200-day moving average price is $13.51.
Analyst Ratings Changes
MRBK has been the subject of several recent research reports. Piper Sandler lifted their price target on Meridian from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. DA Davidson lifted their price target on Meridian from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th.
Check Out 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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