Meridian Bancorp (NASDAQ:EBSB) Reaches New 1-Year High at $20.38

Meridian Bancorp Inc (NASDAQ:EBSB) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $20.38 and last traded at $20.26, with a volume of 2879 shares trading hands. The stock had previously closed at $20.01.

A number of equities analysts have recently issued reports on the stock. Raymond James assumed coverage on shares of Meridian Bancorp in a report on Tuesday, November 26th. They issued an “outperform” rating and a $22.00 price target for the company. ValuEngine downgraded shares of Meridian Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. BidaskClub upgraded shares of Meridian Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Zacks Investment Research downgraded shares of Meridian Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Meridian Bancorp has an average rating of “Hold” and a consensus price target of $19.50.

The stock’s fifty day moving average price is $19.88 and its 200-day moving average price is $18.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $1.07 billion, a PE ratio of 19.14 and a beta of 0.57.

Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings results on Tuesday, October 22nd. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter. The business had revenue of $47.07 million during the quarter. Meridian Bancorp had a net margin of 23.00% and a return on equity of 9.00%. Sell-side analysts forecast that Meridian Bancorp Inc will post 1.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th will be issued a dividend of $0.08 per share. This is an increase from Meridian Bancorp’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, December 18th. Meridian Bancorp’s dividend payout ratio (DPR) is 26.42%.

Large investors have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new position in Meridian Bancorp during the 3rd quarter valued at about $30,000. Tower Research Capital LLC TRC purchased a new position in Meridian Bancorp during the 3rd quarter valued at about $55,000. SG Americas Securities LLC purchased a new position in Meridian Bancorp during the 3rd quarter valued at about $100,000. Aperio Group LLC purchased a new position in Meridian Bancorp during the 2nd quarter valued at about $178,000. Finally, Beese Fulmer Investment Management Inc. purchased a new position in Meridian Bancorp during the 3rd quarter valued at about $190,000. Hedge funds and other institutional investors own 66.04% of the company’s stock.

Meridian Bancorp Company Profile (NASDAQ:EBSB)

Meridian Bancorp, Inc operates as the holding company for East Boston Savings Bank that provides various financial products and services for individuals and businesses primarily in Suffolk, Norfolk, Middlesex and Essex Counties, Massachusetts. The company accepts various deposit products, including non-interest-bearing demand deposits, such as checking accounts; interest-bearing demand accounts comprising NOW and money market accounts; savings accounts; and certificates of deposits, as well as commercial checking accounts.

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