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

BidaskClub upgraded shares of Meridian Bancorp (NASDAQ:EBSB) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

Separately, Keefe, Bruyette & Woods reiterated a hold rating and set a $24.00 target price on shares of Meridian Bancorp in a research note on Thursday, January 25th.

Meridian Bancorp (EBSB) opened at $19.90 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $1,086.19, a price-to-earnings ratio of 24.27 and a beta of 0.22. Meridian Bancorp has a 12 month low of $15.85 and a 12 month high of $21.85.

Meridian Bancorp (NASDAQ:EBSB) last issued its earnings results on Tuesday, January 23rd. The savings and loans company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $48.04 million during the quarter. Meridian Bancorp had a net margin of 20.63% and a return on equity of 7.96%. analysts expect that Meridian Bancorp will post 1.02 EPS for the current year.

In related news, Director James G. Sartori sold 15,146 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $20.61, for a total value of $312,159.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard F. Fernandez sold 14,801 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $19.75, for a total transaction of $292,319.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,462 shares of company stock valued at $1,301,621. Insiders own 5.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Meridian Bancorp in the second quarter valued at about $126,000. Prudential Financial Inc. purchased a new stake in shares of Meridian Bancorp in the second quarter valued at about $178,000. Simplex Trading LLC raised its holdings in shares of Meridian Bancorp by 108.6% in the third quarter. Simplex Trading LLC now owns 10,298 shares of the savings and loans company’s stock valued at $192,000 after buying an additional 5,362 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Meridian Bancorp in the fourth quarter valued at about $203,000. Finally, Legal & General Group Plc raised its holdings in shares of 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. 67.06% of the stock is 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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