Zacks: Meridian Bancorp Inc. (EBSB) Given $16.00 Average Target Price by Analysts
Shares of Meridian Bancorp Inc. (NASDAQ:EBSB) have been given a consensus broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three analysts have rated the stock with a hold rating.
Brokerages have set a 12 month consensus price target of $16.00 for the company and are expecting that the company will post $0.15 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Meridian Bancorp an industry rank of 103 out of 265 based on the ratings given to related companies.
Shares of Meridian Bancorp (NASDAQ:EBSB) traded up 0.06% on Tuesday, reaching $15.53. 11,473 shares of the company’s stock were exchanged. The company has a market cap of $792.43 million, a price-to-earnings ratio of 31.69 and a beta of 0.51. The firm’s 50-day moving average price is $15.52 and its 200 day moving average price is $14.97. Meridian Bancorp has a 12 month low of $12.28 and a 12 month high of $15.77.
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Meridian Bancorp (NASDAQ:EBSB) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.03. Meridian Bancorp had a net margin of 17.96% and a return on equity of 4.44%. Equities research analysts predict that Meridian Bancorp will post $0.56 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $0.12 annualized dividend and a yield of 0.77%. Meridian Bancorp’s payout ratio is currently 24.49%.
A number of large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its stake in shares of Meridian Bancorp by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 170,859 shares of the company’s stock valued at $2,526,000 after buying an additional 3,198 shares during the last quarter. Paloma Partners Management Co purchased a new position in Meridian Bancorp during the second quarter valued at $296,000. A.R.T. Advisors LLC purchased a new position in Meridian Bancorp during the second quarter valued at $182,000. Barclays PLC raised its position in Meridian Bancorp by 0.6% in the second quarter. Barclays PLC now owns 42,636 shares of the company’s stock valued at $630,000 after buying an additional 236 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in Meridian Bancorp by 19.9% in the second quarter. Parametric Portfolio Associates LLC now owns 340,659 shares of the company’s stock valued at $5,035,000 after buying an additional 56,577 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.
Meridian Bancorp Company Profile
Meridian Bancorp Inc, formerly Meridian Interstate Bancorp, Inc, is a mid-tier stock holding company of East Boston Savings Bank (the Bank). The Bank is a state-chartered stock savings bank that operates from 24 full-service locations and two loan centers in the Boston metropolitan area. East Boston Savings Bank operates eight of its full-service locations and a loan center under the name Mt.
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