Meridian Bank (NASDAQ:MRBK) Raises Dividend to $0.14 Per Share

Meridian Bank (NASDAQ:MRBK) declared a quarterly dividend on Thursday, January 29th. Stockholders of record on Monday, February 9th will be paid a dividend of 0.14 per share on Tuesday, February 17th. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, February 9th. This is a 12.0% increase from Meridian Bank’s previous quarterly dividend of $0.13.

Meridian Bank has a dividend payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 0.5%

MRBK traded up $0.10 during trading on Friday, hitting $19.04. 2,060 shares of the company’s stock traded hands, compared to its average volume of 70,132. The company’s 50 day simple moving average is $17.34 and its two-hundred day simple moving average is $15.80. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.26. Meridian Bank has a 12-month low of $11.16 and a 12-month high of $19.24. The stock has a market capitalization of $219.32 million, a price-to-earnings ratio of 10.72 and a beta of 0.81.

Meridian Bank (NASDAQ:MRBK) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.55 by $0.06. The company had revenue of $34.24 million during the quarter, compared to the consensus estimate of $32.41 million. Meridian Bank had a return on equity of 11.39% and a net margin of 9.86%. Analysts predict that Meridian Bank will post 2.07 earnings per share 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.