Meridian Interstate Bancorp Sees Strong Trading Volume After Insider Buying Activity (EBSB)
Shares of Meridian Interstate Bancorp (NASDAQ:EBSB) saw an uptick in trading volume on Wednesday following insider buying activity, American Banking and Market News reports. 1,897,127 shares were traded during mid-day trading, an increase of 106% from the previous session’s volume of 919,729 shares.The stock last traded at $10.78 and had previously closed at $10.60.
Specifically, Director James G. Sartori purchased 3,000 shares of the stock on the open market in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average price of $10.48 per share, for a total transaction of $31,440.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Separately, 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 $10.42 and its 200-day moving average is $10.25. The company has a market cap of $236.8 million and a P/E ratio of 11.91.
Meridian Interstate Bancorp (NASDAQ:EBSB) last issued its quarterly earnings data on Tuesday, July 22nd. 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. Analysts expect that Meridian Interstate Bancorp will post $0.20 EPS for the current fiscal year.
Meridian Interstate Bancorp, Inc is a mid-tier stock holding company of East Boston Savings Bank (NASDAQ:EBSB).
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