Meridian Bank (MRBK) to Issue Quarterly Dividend of $0.14 on August 17th

Meridian Bank (NASDAQ:MRBK) announced a quarterly dividend on Thursday, July 30th. Investors of record on Monday, August 10th will be paid a dividend of 0.14 per share on Monday, August 17th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, August 10th.

Meridian Bank has increased its dividend by an average of 0.3%per year over the last three years. Meridian Bank has a payout ratio of 26.4% meaning 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%.

Meridian Bank Trading Down 2.0%

Shares of NASDAQ MRBK opened at $19.64 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.25. Meridian Bank has a one year low of $13.81 and a one year high of $21.67. The business has a 50-day moving average price of $19.46 and a two-hundred day moving average price of $19.20. The firm has a market capitalization of $233.52 million, a PE ratio of 9.53 and a beta of 0.65.

Meridian Bank (NASDAQ:MRBK) last released its earnings results on Thursday, July 30th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Meridian Bank had a return on equity of 12.43% and a net margin of 11.89%.The company had revenue of $32.67 million during the quarter, compared to analysts’ expectations of $34.31 million. As a group, analysts predict that Meridian Bank will post 1.95 earnings per share for the current fiscal year.

Institutional Trading of Meridian Bank

Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Meridian Bank by 26,887.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,318 shares of the company’s stock valued at $56,000 after buying an additional 4,302 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Meridian Bank during the 2nd quarter worth $64,000. BNP Paribas Financial Markets boosted its holdings in Meridian Bank by 125.9% during the third quarter. BNP Paribas Financial Markets now owns 4,183 shares of the company’s stock valued at $66,000 after acquiring an additional 2,331 shares during the period. Bank of America Corp DE boosted its holdings in Meridian Bank by 166.6% during the second quarter. Bank of America Corp DE now owns 6,103 shares of the company’s stock valued at $79,000 after acquiring an additional 3,814 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in shares of Meridian Bank in the second quarter valued at about $106,000. 58.56% of the stock is owned by institutional investors.

About Meridian Bank

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.