Bank of New York Mellon Corp Sells 3,068 Shares of Meridian Bancorp, Inc. (EBSB)

Bank of New York Mellon Corp reduced its position in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,734 shares of the savings and loans company’s stock after selling 3,068 shares during the period. Bank of New York Mellon Corp owned about 0.50% of Meridian Bancorp worth $5,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Meridian Bancorp by 2.8% during the second quarter. Vanguard Group Inc. now owns 2,154,791 shares of the savings and loans company’s stock worth $36,415,000 after purchasing an additional 58,380 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Meridian Bancorp during the second quarter worth $540,000. Bain Capital Public Equity Management LLC acquired a new position in shares of Meridian Bancorp during the second quarter worth $4,056,000. New York State Common Retirement Fund lifted its position in shares of Meridian Bancorp by 13.6% during the second quarter. New York State Common Retirement Fund now owns 64,249 shares of the savings and loans company’s stock worth $1,086,000 after purchasing an additional 7,668 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Meridian Bancorp by 6.9% during the third quarter. Boston Partners now owns 785,050 shares of the savings and loans company’s stock worth $14,641,000 after purchasing an additional 50,730 shares in the last quarter. 66.13% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on EBSB. BidaskClub raised shares of Meridian Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $24.50 price target on shares of Meridian Bancorp in a report on Friday, December 22nd.

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

Shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) opened at $20.60 on Tuesday. The stock has a market cap of $1,111.79, a price-to-earnings ratio of 23.68 and a beta of 0.27. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.74. Meridian Bancorp, Inc. has a twelve month low of $15.85 and a twelve month high of $21.30.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Tuesday, December 19th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 18th. This is a boost from Meridian Bancorp’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 0.97%. Meridian Bancorp’s dividend payout ratio is currently 22.99%.

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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.

Institutional Ownership by Quarter for Meridian Bancorp (NASDAQ:EBSB)

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