Meridian Interstate Bancorp Shares Gap Up on Strong Earnings (EBSB)
Meridian Interstate Bancorp (NASDAQ:EBSB) shares gapped up before the market opened on Wednesday following a stronger than expected earnings report, Analyst Ratings Network reports. The stock had previously closed at $25.59, but opened at $25.60. Meridian Interstate Bancorp shares last traded at $25.90, with a volume of 26,260 shares changing hands.
The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.14 by $0.11. During the same quarter in the prior year, the company posted $0.07 earnings per share.
Several analysts have recently commented on the stock. Analysts at Compass Point upgraded shares of Meridian Interstate Bancorp from a “neutral” rating to a “buy” rating in a research note on Monday, July 14th. They now have a $29.50 price target on the stock, up previously from $27.00.
The stock’s 50-day moving average is $25.44 and its 200-day moving average is $24.94. The company has a market cap of $559.0 million and a P/E ratio of 32.82.
Meridian Interstate Bancorp, Inc is a mid-tier stock holding company of East Boston Savings Bank (NASDAQ:EBSB).
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