UBS Asset Management Americas Inc. Has $870,000 Stock Position in Meridian Bancorp, Inc. (NASDAQ:EBSB)

UBS Asset Management Americas Inc. raised its stake in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,537 shares of the savings and loans company’s stock after purchasing an additional 2,768 shares during the quarter. UBS Asset Management Americas Inc. owned 0.08% of Meridian Bancorp worth $870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Versor Investments LP acquired a new stake in Meridian Bancorp during the second quarter valued at approximately $55,384,000. JPMorgan Chase & Co. boosted its holdings in Meridian Bancorp by 76.6% during the second quarter. JPMorgan Chase & Co. now owns 1,195,449 shares of the savings and loans company’s stock valued at $24,459,000 after purchasing an additional 518,531 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Meridian Bancorp during the second quarter valued at approximately $22,906,000. Alliancebernstein L.P. boosted its holdings in Meridian Bancorp by 42.6% during the second quarter. Alliancebernstein L.P. now owns 1,059,353 shares of the savings and loans company’s stock valued at $21,674,000 after purchasing an additional 316,528 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Meridian Bancorp by 6.0% in the second quarter. State Street Corp now owns 1,050,588 shares of the savings and loans company’s stock valued at $21,601,000 after acquiring an additional 59,019 shares during the last quarter. 67.47% of the stock is currently owned by institutional investors.

NASDAQ:EBSB opened at $24.15 on Thursday. Meridian Bancorp, Inc. has a 1 year low of $13.43 and a 1 year high of $25.72. The firm has a 50 day moving average of $22.48 and a 200-day moving average of $21.20. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $1.27 billion, a P/E ratio of 15.89 and a beta of 1.07.

Meridian Bancorp (NASDAQ:EBSB) last posted its earnings results on Wednesday, October 20th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Meridian Bancorp had a net margin of 31.56% and a return on equity of 9.75%. The firm had revenue of $49.11 million during the quarter, compared to the consensus estimate of $52.38 million. As a group, analysts forecast that Meridian Bancorp, Inc. will post 1.5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 5th. Investors of record on Tuesday, September 21st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.66%. The ex-dividend date was Monday, September 20th. Meridian Bancorp’s dividend payout ratio (DPR) is presently 26.32%.

Separately, Zacks Investment Research upgraded shares of Meridian Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 10th.

Meridian Bancorp Profile

Meridian Bancorp, Inc operates as a holding company, which engages in the provision of banking and financial services, through East Boston Savings Bank. It offers banking products such as mobile banking; retirement services; investments; savings and certificates of deposits; personal lending; auto loan; line of credit, and cash management.

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

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