Nationwide Fund Advisors reduced its position in Meridian Bancorp, Inc. (NASDAQ:EBSB) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,109 shares of the savings and loans company’s stock after selling 646 shares during the quarter. Nationwide Fund Advisors owned approximately 0.07% of Meridian Bancorp worth $576,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its holdings in Meridian Bancorp by 2,313.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,938 shares of the savings and loans company’s stock valued at $100,000 after buying an additional 5,692 shares during the last quarter. Prudential Financial Inc. bought a new stake in Meridian Bancorp in the second quarter valued at about $178,000. Sei Investments Co. increased its holdings in Meridian Bancorp by 91.2% in the second quarter. Sei Investments Co. now owns 11,318 shares of the savings and loans company’s stock valued at $191,000 after buying an additional 5,400 shares during the last quarter. Legal & General Group Plc increased its holdings in Meridian Bancorp by 3.3% in the second quarter. Legal & General Group Plc now owns 12,312 shares of the savings and loans company’s stock valued at $208,000 after buying an additional 388 shares during the last quarter. Finally, KCG Holdings Inc. bought a new stake in Meridian Bancorp in the first quarter valued at about $257,000. 64.79% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $19.00 price objective on shares of Meridian Bancorp in a report on Thursday, August 31st. Piper Jaffray Companies reissued a “hold” rating on shares of Meridian Bancorp in a report on Wednesday, July 26th. Finally, BidaskClub lowered Meridian Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th.
In related news, Director James G. Sartori sold 1,500 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $17.36, for a total value of $26,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.10% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 19th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Monday, September 18th. Meridian Bancorp’s dividend payout ratio (DPR) is presently 18.39%.
Meridian Bancorp Company Profile
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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