Short Interest in Meridian Interstate Bancorp Grows By 33.1% (EBSB)
Meridian Interstate Bancorp (NASDAQ:EBSB) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 943,933 shares, a growth of 33.1% from the July 15th total of 709,368 shares, Analyst RN reports. Approximately 1.8% of the shares of the company are short sold. Based on an average daily volume of 1,710,378 shares, the days-to-cover ratio is currently 0.6 days.
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.
Meridian Interstate Bancorp (NASDAQ:EBSB) opened at 10.74 on Thursday. Meridian Interstate Bancorp has a 52 week low of $7.9657 and a 52 week high of $11.5278. The stock’s 50-day moving average is $10.54 and its 200-day moving average is $10.33. The company has a market cap of $567.7 million and a P/E ratio of 29.75.
Meridian Interstate Bancorp (NASDAQ:EBSB) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.11. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, analysts predict that Meridian Interstate Bancorp will post $0.20 earnings per share 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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