Shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) have received an average broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating.
Brokerages have set a 1-year consensus price target of $19.00 for the company and are forecasting that the company will post $0.20 EPS for the current quarter, according to Zacks. Zacks has also given Meridian Bancorp an industry rank of 166 out of 265 based on the ratings given to its competitors.
EBSB has been the subject of several recent research reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $20.00 price objective on shares of Meridian Bancorp in a report on Wednesday, April 5th. Piper Jaffray Companies reiterated a “hold” rating on shares of Meridian Bancorp in a research note on Wednesday, July 26th. BidaskClub lowered Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Compass Point upgraded Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Monday, June 26th.
Meridian Bancorp (NASDAQ EBSB) traded up 0.85% during mid-day trading on Thursday, hitting $17.80. 276,660 shares of the stock were exchanged. Meridian Bancorp has a 52-week low of $14.73 and a 52-week high of $20.55. The stock has a 50 day moving average of $16.82 and a 200-day moving average of $17.79. The stock has a market cap of $954.97 million, a price-to-earnings ratio of 25.07 and a beta of 0.26.
Meridian Bancorp (NASDAQ:EBSB) last released its quarterly earnings data on Tuesday, July 25th. The savings and loans company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. The firm had revenue of $40.49 million during the quarter. Meridian Bancorp had a return on equity of 6.82% and a net margin of 22.50%. Equities analysts predict that Meridian Bancorp will post $0.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 21st were paid a $0.04 dividend. The ex-dividend date was Monday, June 19th. This represents a $0.16 annualized dividend and a yield of 0.90%. Meridian Bancorp’s dividend payout ratio (DPR) is presently 20.00%.
In other Meridian Bancorp news, Director James G. Sartori sold 8,324 shares of Meridian Bancorp stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $17.46, for a total value of $145,337.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.10% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Stevens Capital Management LP bought a new position in Meridian Bancorp during the first quarter valued at about $200,000. Acadian Asset Management LLC raised its position in Meridian Bancorp by 27.3% in the first quarter. Acadian Asset Management LLC now owns 529,343 shares of the savings and loans company’s stock valued at $9,688,000 after buying an additional 113,449 shares during the period. NBW Capital LLC raised its position in Meridian Bancorp by 5.1% in the first quarter. NBW Capital LLC now owns 95,246 shares of the savings and loans company’s stock valued at $1,743,000 after buying an additional 4,591 shares during the period. Sei Investments Co. raised its position in Meridian Bancorp by 5.8% in the first quarter. Sei Investments Co. now owns 5,918 shares of the savings and loans company’s stock valued at $108,000 after buying an additional 325 shares during the period. Finally, State Street Corp raised its position in Meridian Bancorp by 11.0% in the fourth quarter. State Street Corp now owns 1,048,679 shares of the savings and loans company’s stock valued at $19,820,000 after buying an additional 104,045 shares during the period. Institutional investors own 65.03% of the company’s stock.
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About Meridian Bancorp
Meridian Bancorp Inc, formerly Meridian Interstate Bancorp, Inc, is a mid-tier stock holding company of East Boston Savings Bank (the Bank). The Bank is a state-chartered stock savings bank that operates from 24 full-service locations and two loan centers in the Boston metropolitan area. East Boston Savings Bank operates eight of its full-service locations and a loan center under the name Mt.
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