Meridian Bank (MRBK) to Issue Quarterly Dividend of $0.13 on November 17th

Meridian Bank (NASDAQ:MRBK) declared a quarterly dividend on Thursday, October 23rd. Investors of record on Monday, November 10th will be given a dividend of 0.125 per share on Monday, November 17th. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, November 10th.

Meridian Bank has a dividend payout ratio of 23.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Meridian Bank 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 Bank Stock Performance

NASDAQ:MRBK opened at $14.52 on Friday. The stock has a market capitalization of $164.08 million, a P/E ratio of 8.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 0.97. Meridian Bank has a fifty-two week low of $11.16 and a fifty-two week high of $17.33. The company has a 50 day moving average price of $15.18 and a 200 day moving average price of $14.32.

Meridian Bank (NASDAQ:MRBK) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.50 by $0.08. The company had revenue of $33.07 million during the quarter, compared to analysts’ expectations of $31.88 million. Meridian Bank had a net margin of 9.86% and a return on equity of 11.61%. Equities research analysts forecast that Meridian Bank will post 2.07 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MRBK. DA Davidson upgraded shares of Meridian Bank to a “strong-buy” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Meridian Bank in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $17.50.

About Meridian Bank

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.