Eagle Asset Management Inc. reduced its holdings in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 0.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 378,593 shares of the savings and loans company’s stock after selling 124 shares during the period. Eagle Asset Management Inc. owned about 0.74% of Meridian Bancorp worth $6,398,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Meridian Bancorp by 8.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,139,513 shares of the savings and loans company’s stock worth $39,153,000 after acquiring an additional 164,243 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Meridian Bancorp by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 2,096,411 shares of the savings and loans company’s stock worth $38,364,000 after acquiring an additional 141,534 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Meridian Bancorp by 2.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,592,058 shares of the savings and loans company’s stock worth $29,135,000 after acquiring an additional 33,900 shares during the last quarter. State Street Corp lifted its stake in shares of Meridian Bancorp by 2.3% during the 1st quarter. State Street Corp now owns 1,073,277 shares of the savings and loans company’s stock worth $19,641,000 after acquiring an additional 24,598 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Meridian Bancorp by 9.0% during the 1st quarter. Boston Partners now owns 847,140 shares of the savings and loans company’s stock worth $15,503,000 after acquiring an additional 70,290 shares during the last quarter. 64.69% of the stock is owned by hedge funds and other institutional investors.
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In related news, EVP Frank Romano acquired 3,785 shares of Meridian Bancorp stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average cost of $17.69 per share, for a total transaction of $66,956.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James G. Sartori sold 1,500 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $17.36, for a total value of $26,040.00. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by company insiders.
A number of equities research analysts have weighed in on EBSB shares. Compass Point raised Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Monday, June 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $19.00 target price on shares of Meridian Bancorp in a research report on Thursday, August 31st. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Meridian Bancorp in a research report on Wednesday, July 26th. Finally, BidaskClub lowered Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th.
Meridian Bancorp, Inc. (NASDAQ EBSB) opened at 18.40 on Friday. The stock has a market capitalization of $938.46 million, a P/E ratio of 23.59 and a beta of 0.28. The stock has a 50 day moving average price of $17.60 and a 200-day moving average price of $17.46. Meridian Bancorp, Inc. has a one year low of $15.06 and a one year high of $20.55.
Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings data on Tuesday, July 25th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. The business had revenue of $40.49 million for the quarter. Meridian Bancorp had a return on equity of 6.77% and a net margin of 22.50%. Analysts anticipate that Meridian Bancorp, Inc. will post $0.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 19th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, September 18th. Meridian Bancorp’s payout ratio is currently 20.00%.
Meridian Bancorp Company Profile
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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