Meridian

MRBK · NASDAQ

$18.48+$0.04 (+0.22%)TodayMarket closed · Oct 20, 4:17 PM ET

Prev close $18.44

MRBK analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy3
Hold0
Underperform0
Sell0

12-month price target · 4 analysts

Average $23.97 (+29.7% upside)

Low: $23.23
Now: $18.48
High: $25.20

Upgrades and downgrades

The latest rating actions, newest first

MRBK analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	May 5, 2026	Maintains	Overweight	$22.00 → $21.00	46%
DA Davidson	Apr 28, 2026	Maintains	Buy	$22.00 → $23.00	61%
DA Davidson	Feb 4, 2026	Maintains	Buy	$21.00 → $22.00	67%
Piper Sandler	Feb 3, 2026	Maintains	Overweight	$20.00 → $22.00	46%
Piper Sandler	Dec 3, 2025	Initiates	Overweight	$19.00	46%

The case for and against

Updated Oct 14, 2026

Bull case

Meridian is attractive because its core banking franchise is still showing solid operating leverage, with NIM expanding to 3.82% and deposit costs falling 19 bps to 2.84%, while average deposits stayed stable at $2.172B and the loan-to-deposit ratio held at 100. Growth should improve as management targets about 10% commercial loan growth in 2026, adds lenders and treasury staff, and benefits from remixing toward higher-yielding C&I loans, which supports an exit NIM near 3.90%. Although credit costs rose, the $7.5M provision and 1.45% NCO rate appear driven by an idiosyncratic CRE exposure rather than the broader book, and NPAs are viewed as near peak with resolution potential across collateralized and government-guaranteed exposures.

Bear case

Meridian is facing a weaker fundamental setup because core EPS of $0.20 and reported EPS of $0.17 fell well short of consensus, while PPNR missed as lower NII and core fees offset stable expenses. Credit quality is also deteriorating, with provision expense rising to $4M, NCOs increasing to 72bp of average loans, and NPAs climbing to $61.71M or 2.8% of loans, particularly in commercial mortgage and construction. Although NIM improved to 3.82%, higher-for-longer rates, elevated SBA losses, and management’s expectation that 2026 SBA income moderates to about $3M annually from $5.45M in 2025 suggest earnings pressure and limited upside.

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