Keefe, Bruyette & Woods Reaffirms Hold Rating for Meridian Bancorp (EBSB)

Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Meridian Bancorp (NASDAQ:EBSB) in a research note published on Friday morning. Keefe, Bruyette & Woods currently has a $24.50 target price on the savings and loans company’s stock.

Separately, BidaskClub cut Meridian Bancorp from a buy rating to a hold rating in a report on Thursday, December 7th.

Shares of Meridian Bancorp (NASDAQ:EBSB) opened at $20.80 on Friday. The company has a market capitalization of $1,120.00, a PE ratio of 24.19 and a beta of 0.63. Meridian Bancorp has a 12-month low of $15.85 and a 12-month high of $21.00. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.74.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 19th will be given a dividend of $0.05 per share. This is a positive change from Meridian Bancorp’s previous quarterly dividend of $0.04. The ex-dividend date is Monday, December 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.96%. Meridian Bancorp’s payout ratio is 23.26%.

In related news, Director Anna R. Dimaria sold 14,690 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $20.16, for a total transaction of $296,150.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marilyn A. Censullo sold 11,929 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $19.95, for a total value of $237,983.55. The disclosure for this sale can be found here. Insiders have sold a total of 41,420 shares of company stock worth $826,454 in the last ninety days. Insiders own 5.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of EBSB. GSA Capital Partners LLP grew its holdings in Meridian Bancorp by 37.4% in the 3rd quarter. GSA Capital Partners LLP now owns 71,050 shares of the savings and loans company’s stock valued at $1,325,000 after buying an additional 19,322 shares in the last quarter. California Public Employees Retirement System grew its holdings in Meridian Bancorp by 13.6% in the 3rd quarter. California Public Employees Retirement System now owns 31,947 shares of the savings and loans company’s stock valued at $596,000 after buying an additional 3,820 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Meridian Bancorp in the 3rd quarter valued at $259,000. Jane Street Group LLC acquired a new position in Meridian Bancorp in the 3rd quarter valued at $345,000. Finally, Magnetar Financial LLC acquired a new position in Meridian Bancorp in the 3rd quarter valued at $257,000. 66.13% of the stock is currently owned by institutional investors and hedge funds.

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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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