Meridian Bancorp Director Buys $21,520 in Stock (EBSB)
Meridian Bancorp (NASDAQ:EBSB) Director Richard F. Fernandez bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were purchased at an average price of $10.76 per share, for a total transaction of $21,520.00. Following the completion of the acquisition, the director now directly owns 30,380 shares in the company, valued at approximately $326,889. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Meridian Bancorp (NASDAQ:EBSB) traded up 0.28% during mid-day trading on Friday, hitting $10.58. 424,401 shares of the company’s stock traded hands. Meridian Bancorp has a one year low of $7.9657 and a one year high of $11.5278. The stock has a 50-day moving average of $10.59 and a 200-day moving average of $10.40. The company has a market cap of $559.2 million and a price-to-earnings ratio of 29.06. Meridian Bancorp also was the target of a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 669,051 shares, a decline of 29.1% from the July 31st total of 943,933 shares. Based on an average daily volume of 649,992 shares, the short-interest ratio is presently 1.0 days. Approximately 1.3% of the shares of the stock are short sold.
Meridian Bancorp (NASDAQ:EBSB) last announced its earnings results 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 Bancorp will post $0.20 EPS for the current fiscal year.
EBSB has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Meridian Bancorp in a research note on Thursday, August 14th. They now have a $11.00 price target on the stock, down previously from $27.00. Analysts at Compass Point upgraded shares of Meridian 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 Bancorp Inc, formerly Meridian Interstate Bancorp, Inc, is a mid-tier stock holding company of East Boston Savings Bank (NASDAQ:EBSB).
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