Meridian Bank (NASDAQ:MRBK) to Issue $0.14 Quarterly Dividend

Meridian Bank (NASDAQ:MRBK) declared a quarterly dividend on Thursday, April 23rd. Investors of record on Monday, May 4th will be given a dividend of 0.14 per share on Monday, May 11th. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, May 4th.

Meridian Bank has increased its dividend payment by an average of 0.3%annually over the last three years. Meridian Bank has a payout ratio of 26.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Meridian Bank to earn $2.65 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 21.1%.

Meridian Bank Stock Up 0.0%

NASDAQ:MRBK opened at $20.21 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.98. The company has a market cap of $240.09 million, a PE ratio of 10.69 and a beta of 0.75. Meridian Bank has a 52-week low of $11.16 and a 52-week high of $21.67. The stock has a 50-day simple moving average of $19.55 and a 200 day simple moving average of $17.66.

Meridian Bank (NASDAQ:MRBK) last posted its quarterly earnings data on Friday, April 24th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). Meridian Bank had a return on equity of 11.81% and a net margin of 10.63%.The firm had revenue of $30.24 million for the quarter, compared to the consensus estimate of $31.79 million. On average, sell-side analysts expect that Meridian Bank will post 2.3 EPS for the current fiscal year.

Meridian Bank Company Profile

Meridian Bank, a Pennsylvania-chartered institution founded in 1993 and headquartered in Philadelphia, operates as a full-service community bank serving the Greater Philadelphia region. As a wholly owned subsidiary of Meridian Bancorp, Inc (NASDAQ: MRBK), the bank maintains a network of branch locations complemented by online and mobile platforms to meet the evolving needs of individual and business customers.

On the consumer side, Meridian Bank offers a comprehensive suite of deposit products, including checking accounts, savings accounts and certificates of deposit, alongside personal lending solutions such as home equity lines of credit, residential mortgage loans and unsecured consumer loans.