Meridian Bancorp (NASDAQ:EBSB) Upgraded to “Hold” at BidaskClub

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BidaskClub upgraded shares of Meridian Bancorp (NASDAQ:EBSB) from a sell rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

A number of other analysts have also recently commented on EBSB. Zacks Investment Research cut Meridian Bancorp from a hold rating to a sell rating in a research report on Wednesday, September 4th. Piper Jaffray Companies raised Meridian Bancorp from a neutral rating to an overweight rating and lifted their price target for the stock from $18.50 to $20.00 in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Meridian Bancorp has a consensus rating of Hold and an average target price of $18.67.

Shares of Meridian Bancorp stock traded up $0.12 during trading on Thursday, reaching $18.73. The company’s stock had a trading volume of 73,600 shares, compared to its average volume of 131,574. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.86. The company has a market cap of $965.14 million, a price-to-earnings ratio of 17.67 and a beta of 0.55. Meridian Bancorp has a 1-year low of $13.67 and a 1-year high of $19.32. The company has a 50-day simple moving average of $17.80 and a two-hundred day simple moving average of $17.23.

Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.01). The business had revenue of $45.42 million during the quarter, compared to analyst estimates of $47.10 million. Meridian Bancorp had a return on equity of 8.77% and a net margin of 22.96%.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.07 per share. The ex-dividend date is Monday, September 16th. This represents a $0.28 dividend on an annualized basis and a yield of 1.49%. Meridian Bancorp’s dividend payout ratio is currently 26.42%.

A number of institutional investors and hedge funds have recently modified their holdings of EBSB. Dimensional Fund Advisors LP lifted its position in Meridian Bancorp by 7.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,957,866 shares of the savings and loans company’s stock worth $42,357,000 after acquiring an additional 194,621 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Meridian Bancorp by 508.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,008 shares of the savings and loans company’s stock valued at $157,000 after buying an additional 8,362 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Meridian Bancorp during the 1st quarter valued at about $156,000. Commerce Bank raised its stake in shares of Meridian Bancorp by 19.3% during the 1st quarter. Commerce Bank now owns 16,900 shares of the savings and loans company’s stock valued at $265,000 after buying an additional 2,735 shares during the last quarter. Finally, Martingale Asset Management L P purchased a new position in shares of Meridian Bancorp during the 1st quarter valued at about $3,647,000. 65.67% of the stock is owned by institutional investors.

About Meridian Bancorp

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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