Analysts Expect Meridian Bancorp, Inc. (EBSB) to Post $0.21 EPS
Wall Street analysts expect Meridian Bancorp, Inc. (NASDAQ:EBSB) to report earnings per share (EPS) of $0.21 for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Meridian Bancorp’s earnings. Meridian Bancorp posted earnings per share of $0.18 in the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The company is expected to issue its next earnings report on Tuesday, October 24th.
On average, analysts expect that Meridian Bancorp will report full year earnings of $0.81 per share for the current financial year. For the next fiscal year, analysts anticipate that the business will report earnings of $0.94 per share. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Meridian Bancorp.
Meridian Bancorp (NASDAQ:EBSB) last released its quarterly earnings results on Tuesday, July 25th. The savings and loans company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $40.49 million during the quarter. Meridian Bancorp had a return on equity of 6.77% and a net margin of 22.50%.
A number of brokerages have recently commented on EBSB. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Meridian Bancorp in a research report on Thursday, August 31st. BidaskClub downgraded Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Meridian Bancorp in a research report on Wednesday, July 26th. Finally, Compass Point raised Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Monday, June 26th.
Meridian Bancorp (NASDAQ EBSB) opened at 18.25 on Friday. Meridian Bancorp has a 12-month low of $15.06 and a 12-month high of $20.55. The stock has a market capitalization of $930.80 million, a PE ratio of 23.40 and a beta of 0.28. The stock’s 50 day moving average price is $17.60 and its 200-day moving average price is $17.46.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 19th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, September 18th. Meridian Bancorp’s dividend payout ratio (DPR) is presently 20.00%.
In other Meridian Bancorp news, Director James G. Sartori sold 8,324 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $17.46, for a total transaction of $145,337.04. The transaction 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 the stock in a transaction 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 currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its position in Meridian Bancorp by 2,313.8% during the second quarter. BNP Paribas Arbitrage SA now owns 5,938 shares of the savings and loans company’s stock valued at $100,000 after acquiring an additional 5,692 shares during the period. Sei Investments Co. grew its position in Meridian Bancorp by 5.8% during the first quarter. Sei Investments Co. now owns 5,918 shares of the savings and loans company’s stock valued at $108,000 after acquiring an additional 325 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Meridian Bancorp during the second quarter valued at about $126,000. Banc Funds Co. LLC purchased a new stake in Meridian Bancorp during the second quarter valued at about $169,000. Finally, Wolverine Trading LLC purchased a new stake in Meridian Bancorp during the second quarter valued at about $173,000. 64.69% of the stock is owned by hedge funds and other institutional investors.
About Meridian Bancorp
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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