MRBK
Meridian Corp
Next earnings Jul 22, 2026 · consensus $0.52 EPS, $34.9M rev
Last earnings +0.0% on 2026-04-23
$19.64
▼ -2.00%$19.64▲ +57.24%
over 1Y
L $12.49H $20.45
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-2.0%
1W-2.0%
1M+8.4%
3M+3.7%
YTD+16.4%
1Y+57.2%
Buy
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 8 analysts
Buy
Cheap PA community bank at ~10x earnings and 1.2x book with a widening net interest margin and 12% ROE — the price undercounts the turn.
Diluted EPS (FY2025) $1.89 · FY2025
The read
Quality fundamentals and an attractive price line up (~266% below fair value) — the rarer case where both the business and the entry look good.
Ignore the P/S of 36.9 and the 345.7% "net margin" — those come from the fee-revenue XBRL tag ($6.32M), not this bank's real top line. For a bank the number that matters is net interest income, which management says rose $16.7M (+23.5%) on higher earning-asset volume, driving net income up 33.6% to $21.8M and diluted EPS up 30.3% to $1.89. The MD&A confirms the engine: net interest margin expanded from 3.16% to 3.64%, ROA improved from 0.70% to 0.87%, and ROE from 9.93% to 12.00%. Loans grew 7.0% to $2.2B and assets 7.4% to $2.56B. This is a genuinely improving small-cap operator.
On valuation the setup is favorable. At $19.64 the stock trades at 10.4x FY2025 EPS and roughly 1.16x the $16.89 book value / 1.18x the $16.59 tangible book — a modest premium for a bank now earning a 12% ROE with rising margins and a growing $0.14 quarterly dividend (raised from $0.125, ~2.8% yield). A bank compounding book value (up 16.4% to $200M, retained earnings +14.4%) and posting double-digit ROE typically deserves better than 1.2x book; re-rating to ~1.3x book / ~12x earnings supports a low-$20s target.
Is MRBK a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBull call spread~60d expiry
- Long call 19.5 @ ~0.76 est
- Short call 21.5 @ ~0.12 est
debit $64max +$136max −$64BE 20.14
BUY verdict with defined risk: the short call finances part of the long one; max loss is the net debit.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | $4.73M | $4.93M | $5.74M | $6.32M |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $35.6M | $21.8M | $13.2M | $16.3M | $21.8M |
| Diluted EPS | $2.87 | $1.79 | $1.16 | $1.45 | $1.89 |
| Net margin | — | 461.2% | 268.7% | 285.0% | 345.7% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF10.3
PEG (trailing)0.31
Earnings yield9.4%
FCF yield9.7%
Quality & risk
ROIC (est.)—
Free cash flow$22.6M
Total debt$116M
Net cash-$88.2M
Piotroski F-Score5/7
Capital returns
Buyback yield0.0%
Dividend yield (est.)2.4%
Shareholder yield2.4%
Shares Δ YoY+5.2%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-05-29
Annual meeting vote results filed; directors elected, routine proposals ratified
- 10-Q Quarterly report2026-05-11
Q1 2026 10-Q: loans and assets keep growing on a wider net interest margin
- 8-K/A Amended 8-K2026-05-04
Amended a prior 8-K, likely adding required financials/exhibits
- 8-K Officer / director change2026-04-27
Leadership change (Item 5.02): director/officer appointment or departure
- 8-K Officer / director change2026-04-23
Q1 2026 earnings released; growth momentum continues
- 8-K Earnings results2026-04-23
Q1 2026 earnings released; growth momentum continues
- DEF 14A Proxy statement2026-04-06
DEF 14A proxy for 2026 annual meeting: board slate, say-on-pay, auditor
- 10-K Annual report2026-03-13
FY25 10-K: assets +7.4% to $2.6B, NIM 3.64%, EPS $1.89, dividend hiked
- 8-K Earnings results2026-01-29
Q4/FY25 results: net income +34%, EPS +30%; dividend raised to $0.14
Recent filings
all on EDGAR ↗4Period ending 2026-05-112026-06-25open ↗4Period ending 2026-06-082026-06-10open ↗8-KPeriod ending 2026-05-282026-05-29open ↗4Period ending 2026-05-132026-05-14open ↗10-QPeriod ending 2026-03-312026-05-11open ↗4Period ending 2026-05-072026-05-08open ↗8-K/APeriod ending 2026-04-232026-05-04open ↗4Period ending 2026-04-302026-04-30open ↗4Period ending 2026-04-292026-04-30open ↗3Period ending 2026-04-272026-04-27open ↗8-KPeriod ending 2026-04-272026-04-27open ↗8-KPeriod ending 2026-04-232026-04-23open ↗
Frequently asked
- Is Meridian Corp (MRBK) a buy?
- MRBK currently carries a Buy rating with 3/5 conviction, derived from its latest SEC filings. Cheap PA community bank at ~10x earnings and 1.2x book with a widening net interest margin and 12% ROE — the price undercounts the turn.
- What is MRBK's fair value?
- A Modified-Graham model based on MRBK's SEC fundamentals estimates a fair value of about $71.82. It is an estimate from reported earnings, not a price target.
- Is MRBK overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, MRBK currently appears undervalued relative to its SEC-grounded earnings power.
- What is Meridian Corp's quality score?
- MRBK scores 75.19800158411533/100 (grade B+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001750735, latest 10-Q filed 2026-05-11) · EODHD · Proprietary analysis · as of 7/3/2026, 11:03:01 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 3, 2026, 7:03 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.