Meridian Bancorp, Inc. (EBSB) Plans $0.04 Quarterly Dividend
Meridian Bancorp, Inc. (NASDAQ:EBSB) declared a quarterly dividend on Tuesday, September 5th, Wall Street Journal reports. Stockholders of record on Tuesday, September 19th will be given a dividend of 0.04 per share by the savings and loans company on Tuesday, October 3rd. This represents a $0.16 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, September 18th.
Meridian Bancorp (NASDAQ:EBSB) traded down 1.40% during trading on Tuesday, hitting $17.60. The stock had a trading volume of 158,038 shares. The stock’s 50-day moving average price is $17.30 and its 200-day moving average price is $17.54. The company has a market capitalization of $897.65 million, a P/E ratio of 22.56 and a beta of 0.28. Meridian Bancorp has a 1-year low of $15.06 and a 1-year high of $20.55.
Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings results on Tuesday, July 25th. The savings and loans company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The company had revenue of $40.49 million during the quarter. Meridian Bancorp had a net margin of 22.50% and a return on equity of 6.77%. Analysts expect that Meridian Bancorp will post $0.82 earnings per share for the current year.
Several brokerages recently weighed in on EBSB. Keefe, Bruyette & Woods reissued a “hold” rating and set a $19.00 price target on shares of Meridian Bancorp in a research report on Thursday, August 31st. Piper Jaffray Companies reissued a “hold” rating on shares of Meridian Bancorp in a research report on Wednesday, July 26th. BidaskClub downgraded shares of Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Compass Point raised shares of Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Monday, June 26th.
In related news, Director James G. Sartori sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $17.36, for a total transaction of $26,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frank Romano purchased 3,785 shares of Meridian Bancorp stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average cost of $17.69 per share, with a total value of $66,956.65. The disclosure for this purchase can be found here. 5.10% of the stock is owned by company insiders.
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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