Meridian (MRBK)

• Market cap: $159M
• 1 day: -2.28%
• 5 days: -8.58%
• 1 month: -0.91%
• 3 months: 13.72%
• 6 months: 38.11%
• Year to date: 2.31%
• 1 year: 5.98%
• 5 years: 47.91%
• 10 years: 55.20%
• Sector: Financials
• Industry: National Commercial Banks

About: Meridian Corp is a full-service, state-chartered commercial bank providing personal, business lending, and deposit services. It operates in three business segments including Bank, Wealth, and Mortgage. It generates maximum revenue from the Bank segment that consists of commercial and retail banking. It generates interest income from its lending (including leasing) and investing activities and is dependent on the gathering of lower-cost deposits from its branch network or borrowed funds from other sources for funding its loans, resulting in the generation of net interest income, and other sources.

Employees: 324

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

200% more funds holding in top 10

Funds holding in top 10: 1 [Q2] → 3 (+2) [Q3]

67% more first-time investments, than exits

New positions opened: 5 | Existing positions closed: 3

46% more capital invested

Capital invested by funds: $53.4M [Q2] → $78M (+$24.6M) [Q3]

27% more repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 11

9.96% more ownership

Funds ownership: 45.21% [Q2] → 55.17% (+9.96%) [Q3]

5% more funds holding

Funds holding: 40 [Q2] → 42 (+2) [Q3]

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $15 6% upside
• Avg. target: $16 13% upside
• High target: $17 20% upside

2 analyst ratings

• positive: 1 50%
• neutral: 1 50%
• negative: 0 0%

DA Davidson Russell Gunther 89% 1-year accuracy 16 / 18 met price target	20% upside $17	Buy Maintained	29 Oct 2024
Piper Sandler Frank Schiraldi 65% 1-year accuracy 17 / 26 met price target	6% upside $15	Neutral Maintained	29 Oct 2024