Meridian Bank Plans Quarterly Dividend of $0.14 (NASDAQ:MRBK)

Meridian Bank (NASDAQ:MRBK – Get Free Report) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Monday, August 10th will be given a dividend of 0.14 per share on Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, August 10th.

Meridian Bank has raised its dividend payment by an average of 0.3%annually over the last three years. Meridian Bank has a dividend payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Meridian Bank to earn $2.52 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 22.2%.

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Meridian Bank Stock Down 1.5%

Shares of NASDAQ MRBK opened at $20.04 on Friday. Meridian Bank has a 52-week low of $13.81 and a 52-week high of $21.67. The firm has a market capitalization of $238.28 million, a price-to-earnings ratio of 9.68 and a beta of 0.65. The stock has a 50 day moving average price of $19.41 and a 200 day moving average price of $19.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.97.

Meridian Bank (NASDAQ:MRBK – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). The firm had revenue of $32.67 million for the quarter, compared to analysts’ expectations of $34.31 million. Meridian Bank had a return on equity of 12.61% and a net margin of 11.68%. Sell-side analysts expect that Meridian Bank will post 1.95 earnings per share for the current year.

About Meridian Bank

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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.

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