Meridian Corp (MRBK) To Go Ex-Dividend on November 9th

Meridian Corp (NASDAQ:MRBK) declared a quarterly dividend on Friday, October 30th. Shareholders of record on Monday, November 9th will be paid a dividend of $0.14 per share on Monday, November 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, November 9th.

Meridian has raised its dividend by an average of 0.3% per year over the last three years. Meridian has a payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Meridian to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 26.7%.

Meridian Stock Up 0.7%

Shares of MRBK stock opened at $16.47 on Friday. The firm has a market capitalization of $196.49 million, a P/E ratio of 8.62 and a beta of 0.65. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $18.85 and its two-hundred day moving average price is $19.21. Meridian has a 1 year low of $13.92 and a 1 year high of $21.67.

Meridian (NASDAQ:MRBK) last issued its quarterly earnings results on Friday, October 30th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The business had revenue of $30.14 million for the quarter, compared to the consensus estimate of $33.05 million. Meridian had a return on equity of 11.37% and a net margin of 11.46%. On average, equities analysts predict that Meridian will post 1.47 EPS for the current fiscal year.

Meridian Company Profile

Meridian Corporation is a bank holding company headquartered in Malvern, Pennsylvania. Through its principal subsidiary, Meridian Bank, the company provides commercial and community banking services to businesses, professionals and individuals in the Mid-Atlantic region.

Meridian Bank offers business lending, commercial real estate financing, construction loans, equipment financing, residential and consumer lending, deposit accounts, cash-management services and online banking. The company also provides mortgage banking and wealth management services, including investment and financial planning solutions.

Meridian was established in 2004 and serves customers through a network of banking offices in southeastern Pennsylvania, New Jersey and surrounding markets.