Highlander Capital Management LLC lowered its holdings in Meridian Bancorp Inc (NASDAQ:EBSB) by 29.9% in the first quarter, HoldingsChannel reports. The firm owned 30,000 shares of the savings and loans company’s stock after selling 12,804 shares during the period. Highlander Capital Management LLC’s holdings in Meridian Bancorp were worth $582,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Meridian Bancorp in the first quarter valued at $144,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Meridian Bancorp in the fourth quarter valued at $201,000. Commerce Bank purchased a new stake in shares of Meridian Bancorp in the fourth quarter valued at $230,000. Stone Ridge Asset Management LLC purchased a new stake in shares of Meridian Bancorp in the fourth quarter valued at $247,000. Finally, Stifel Financial Corp purchased a new stake in shares of Meridian Bancorp in the first quarter valued at $258,000. Institutional investors own 69.18% of the company’s stock.
In other news, Director James G. Sartori sold 19,852 shares of the company’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $19.48, for a total value of $386,716.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Frank Romano purchased 14,365 shares of the company’s stock in a transaction dated Friday, April 27th. The stock was bought at an average cost of $18.85 per share, for a total transaction of $270,780.25. The disclosure for this purchase can be found here. Insiders sold 21,475 shares of company stock worth $417,494 over the last ninety days. 5.30% of the stock is currently owned by company insiders.
Shares of NASDAQ EBSB traded down $0.10 during mid-day trading on Thursday, reaching $19.35. The company had a trading volume of 400 shares, compared to its average volume of 227,295. Meridian Bancorp Inc has a twelve month low of $15.85 and a twelve month high of $21.85. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $1.05 billion, a PE ratio of 20.47 and a beta of 0.28.
Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings results on Tuesday, April 24th. The savings and loans company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). Meridian Bancorp had a return on equity of 8.20% and a net margin of 21.09%. The company had revenue of $42.18 million during the quarter. analysts predict that Meridian Bancorp Inc will post 1.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Tuesday, June 19th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Monday, June 18th. Meridian Bancorp’s dividend payout ratio (DPR) is presently 21.05%.
EBSB has been the topic of a number of research reports. BidaskClub downgraded shares of Meridian Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, May 12th. Zacks Investment Research downgraded shares of Meridian Bancorp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 16th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $21.50.
Meridian Bancorp Company Profile
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 Essex, Middlesex, Norfolk, and Suffolk 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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