Meridian said on April 27, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.50 annualized). Previously, the company paid $0.25 per share.
Shares must be purchased before the ex-div date of May 12, 2023 to qualify for the dividend. Shareholders of record as of May 15, 2023 will receive the payment on May 22, 2023.
At the current share price of $8.47 / share, the stock's dividend yield is 5.90%.
Looking back five years and taking a sample every week, the average dividend yield has been 7.08%, the lowest has been 1.65%, and the highest has been 16.00%. The standard deviation of yields is 4.12 (n=236).
The current dividend yield is 0.29 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.56. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 1.00%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 98 funds or institutions reporting positions in Meridian. This is an increase of 9 owner(s) or 10.11% in the last quarter. Average portfolio weight of all funds dedicated to MRBK is 0.14%, a decrease of 46.79%. Total shares owned by institutions increased in the last three months by 3.54% to 3,090K shares.
Analyst Price Forecast Suggests 78.63% Upside
As of April 24, 2023, the average one-year price target for Meridian is 15.13. The forecasts range from a low of 14.64 to a high of $15.75. The average price target represents an increase of 78.63% from its latest reported closing price of 8.47.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Meridian is 122MM, an increase of 17.18%. The projected annual non-GAAP EPS is 4.12.
What are Other Shareholders Doing?
Banc Funds Co holds 364K shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 420K shares, representing a decrease of 15.37%. The firm decreased its portfolio allocation in MRBK by 99.91% over the last quarter.
Strategic Value Bank Partners holds 326K shares representing 2.88% ownership of the company. No change in the last quarter.
River Oaks Capital holds 238K shares representing 2.11% ownership of the company. In it's prior filing, the firm reported owning 121K shares, representing an increase of 49.17%. The firm increased its portfolio allocation in MRBK by 100,524.53% over the last quarter.
Price Jennifer C. holds 219K shares representing 1.94% ownership of the company. In it's prior filing, the firm reported owning 270K shares, representing a decrease of 23.12%. The firm increased its portfolio allocation in MRBK by 4.00% over the last quarter.
First Manhattan holds 191K shares representing 1.68% ownership of the company. No change in the last quarter.
Meridian Background Information
(This description is provided by the company.)
Meridian is an innovative and entrepreneurial community bank serving businesses, individuals and entrepreneurs in PA, NJ, DE and MD. Meridian's specialties includea robust business banking platform, commercial and consumer real estate financing, residential mortgages, investment and wealth management services, retail banking, equipment financing and electronic payments processing.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
