Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sei Investments Co. increased its position in Meridian Bancorp by 5.8% in the first quarter. Sei Investments Co. now owns 5,918 shares of the savings and loans company’s stock worth $108,000 after buying an additional 325 shares in the last quarter. Stevens Capital Management LP acquired a new position in Meridian Bancorp during the first quarter worth $200,000. Victory Capital Management Inc. acquired a new position in Meridian Bancorp during the first quarter worth $227,000. KCG Holdings Inc. acquired a new position in Meridian Bancorp during the first quarter worth $257,000. Finally, Globeflex Capital L P increased its position in Meridian Bancorp by 17,878.8% in the first quarter. Globeflex Capital L P now owns 17,799 shares of the savings and loans company’s stock worth $326,000 after buying an additional 17,700 shares in the last quarter. Institutional investors and hedge funds own 65.03% of the company’s stock.
Emerald Mutual Fund Advisers Trust held its position in Meridian Bancorp, Inc. (NASDAQ:EBSB) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,870 shares of the savings and loans company’s stock at the end of the second quarter. Emerald Mutual Fund Advisers Trust’s holdings in Meridian Bancorp were worth $775,000 as of its most recent filing with the SEC.
Meridian Bancorp, Inc. (NASDAQ EBSB) opened at 17.80 on Wednesday. The company has a market cap of $907.85 million, a P/E ratio of 22.82 and a beta of 0.26. Meridian Bancorp, Inc. has a 12-month low of $14.74 and a 12-month high of $20.55. The stock’s 50 day moving average is $16.84 and its 200-day moving average is $17.78.
Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings results on Tuesday, July 25th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Meridian Bancorp had a net margin of 22.50% and a return on equity of 6.82%. The firm had revenue of $40.49 million for the quarter. Analysts predict that Meridian Bancorp, Inc. will post $0.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 21st were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.90%. The ex-dividend date was Monday, June 19th. Meridian Bancorp’s dividend payout ratio (DPR) is currently 20.00%.
A number of research firms have recently weighed in on EBSB. BidaskClub downgraded shares of Meridian Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Piper Jaffray Companies restated a “hold” rating on shares of Meridian Bancorp in a report on Wednesday, July 26th. Compass Point upgraded shares of Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Monday, June 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $20.00 price target on shares of Meridian Bancorp in a report on Wednesday, April 5th.
In other Meridian Bancorp news, Director James G. Sartori sold 8,324 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $17.46, for a total transaction of $145,337.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.10% of the company’s stock.
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.
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