Meridian Co. Announces Quarterly Dividend of $0.20 (NASDAQ:MRBK)

Meridian Co. (NASDAQ:MRBKGet Rating) announced a quarterly dividend on Wednesday, May 4th, Wall Street Journal reports. Stockholders of record on Monday, May 16th will be paid a dividend of 0.20 per share on Monday, May 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Friday, May 13th.

Meridian has a payout ratio of 18.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Meridian to earn $4.37 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 18.3%.

Shares of MRBK stock opened at $32.12 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.94. The stock has a market cap of $196.90 million, a PE ratio of 6.46 and a beta of 0.50. The stock has a 50-day moving average of $32.75 and a 200-day moving average of $34.15. Meridian has a one year low of $24.00 and a one year high of $39.78.

Meridian (NASDAQ:MRBKGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.11. Meridian had a return on equity of 19.48% and a net margin of 21.19%. As a group, research analysts anticipate that Meridian will post 3.78 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Meridian by 9.7% during the 4th quarter. BlackRock Inc. now owns 102,748 shares of the company’s stock worth $3,778,000 after purchasing an additional 9,087 shares in the last quarter. Millennium Management LLC boosted its position in Meridian by 8.9% during the 4th quarter. Millennium Management LLC now owns 60,358 shares of the company’s stock worth $2,219,000 after acquiring an additional 4,938 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Meridian during the 3rd quarter worth approximately $207,000. Two Sigma Investments LP acquired a new position in Meridian during the 3rd quarter worth approximately $301,000. Finally, Dimensional Fund Advisors LP boosted its position in Meridian by 13.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 39,970 shares of the company’s stock worth $1,146,000 after acquiring an additional 4,718 shares during the last quarter. 57.00% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research cut Meridian from a “strong-buy” rating to a “hold” rating in a research note on Saturday, February 5th.

Meridian Company Profile (Get Rating)

Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, 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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Dividend History for Meridian (NASDAQ:MRBK)

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