Meridian Bancorp (EBSB) Cut to “Hold” at BidaskClub

Meridian Bancorp (NASDAQ:EBSB) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday.

Separately, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $19.00 target price on shares of Meridian Bancorp in a report on Thursday, August 31st.

Shares of Meridian Bancorp (NASDAQ EBSB) traded down $0.20 on Thursday, reaching $19.80. The company’s stock had a trading volume of 185,400 shares, compared to its average volume of 162,331. The firm has a market cap of $1,087.50, a P/E ratio of 23.16 and a beta of 0.27. Meridian Bancorp has a 52-week low of $15.85 and a 52-week high of $20.73. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.23 and a quick ratio of 1.23.

In other Meridian Bancorp news, Director Marilyn A. Censullo sold 11,929 shares of Meridian Bancorp stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $19.95, for a total transaction of $237,983.55. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard F. Fernandez sold 14,801 shares of Meridian Bancorp stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $19.75, for a total value of $292,319.75. The disclosure for this sale can be found here. Insiders have sold a total of 41,420 shares of company stock worth $826,454 over the last ninety days. Company insiders own 5.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of Meridian Bancorp by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,463,379 shares of the savings and loans company’s stock worth $45,943,000 after acquiring an additional 159,475 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Meridian Bancorp by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,154,791 shares of the savings and loans company’s stock worth $36,415,000 after acquiring an additional 58,380 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Meridian Bancorp by 5.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,683,758 shares of the savings and loans company’s stock worth $28,456,000 after acquiring an additional 91,700 shares in the last quarter. State Street Corp raised its position in shares of Meridian Bancorp by 3.8% in the 2nd quarter. State Street Corp now owns 1,113,653 shares of the savings and loans company’s stock worth $18,822,000 after acquiring an additional 40,376 shares in the last quarter. Finally, Boston Partners raised its position in shares of Meridian Bancorp by 6.9% in the 3rd quarter. Boston Partners now owns 785,050 shares of the savings and loans company’s stock worth $14,641,000 after acquiring an additional 50,730 shares in the last quarter. 66.13% of the stock is currently owned by hedge funds and other institutional investors.

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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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