Meridian Bancorp, Inc. (NASDAQ:EBSB) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Monday, July 24th.
A number of other research firms have also recently issued reports on EBSB. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $20.00 target price on shares of Meridian Bancorp in a research note on Wednesday, April 5th. Compass Point raised Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Monday, June 26th.
Shares of Meridian Bancorp (NASDAQ:EBSB) traded down 1.16% during midday trading on Monday, hitting $17.05. 176,450 shares of the stock were exchanged. Meridian Bancorp has a 12-month low of $15.06 and a 12-month high of $20.55. The firm has a market cap of $869.60 million, a PE ratio of 21.86 and a beta of 0.26. The firm has a 50-day moving average price of $17.03 and a 200 day moving average price of $17.75.
Meridian Bancorp (NASDAQ:EBSB) last posted its earnings results on Tuesday, July 25th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. Meridian Bancorp had a return on equity of 6.77% and a net margin of 22.50%. The firm had revenue of $40.49 million during the quarter. Analysts predict that Meridian Bancorp will post $0.83 earnings per share for the current fiscal year.
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In other Meridian Bancorp news, EVP Frank Romano acquired 3,785 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average price of $17.69 per share, for a total transaction of $66,956.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James G. Sartori sold 8,324 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $17.46, for a total value of $145,337.04. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Meridian Bancorp by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,303,904 shares of the savings and loans company’s stock worth $38,937,000 after buying an additional 164,391 shares during the period. Vanguard Group Inc. increased its stake in shares of Meridian Bancorp by 2.8% in 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 buying an additional 58,380 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Meridian Bancorp by 5.8% in the second quarter. Renaissance Technologies LLC now owns 1,683,758 shares of the savings and loans company’s stock worth $28,456,000 after buying an additional 91,700 shares in the last quarter. State Street Corp increased its stake in shares of Meridian Bancorp by 2.3% in the first quarter. State Street Corp now owns 1,073,277 shares of the savings and loans company’s stock worth $19,641,000 after buying an additional 24,598 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Meridian Bancorp by 9.0% in the first quarter. Boston Partners now owns 847,140 shares of the savings and loans company’s stock worth $15,503,000 after buying an additional 70,290 shares in the last quarter. Hedge funds and other institutional investors own 64.97% 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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