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Shares of Meridian Bancorp (NASDAQ:EBSB) were the target of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 669,051 shares, a drop of 29.1% from the July 31st total of 943,933 shares, ARN reports. Approximately 1.3% of the company’s shares are short sold. Based on an average daily volume of 649,992 shares, the days-to-cover ratio is currently 1.0 days.

Several analysts have recently commented on the stock. 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 (NASDAQ:EBSB) opened at 10.65 on Friday. Meridian Bancorp has a 52 week low of $7.9739 and a 52 week high of $11.5278. The stock has a 50-day moving average of $10.63 and a 200-day moving average of $10.44. The company has a market cap of $562.9 million and a price-to-earnings ratio of 29.34.

Meridian Bancorp (NASDAQ:EBSB) last issued its quarterly earnings data 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 Bancorp will post $0.20 earnings per share for the current fiscal year.

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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