Brokerages Expect Meridian Bancorp, Inc. (EBSB) Will Announce Earnings of $0.24 Per Share
Brokerages predict that Meridian Bancorp, Inc. (NASDAQ:EBSB) will post $0.24 earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Meridian Bancorp’s earnings. Meridian Bancorp posted earnings of $0.22 per share during the same quarter last year, which would indicate a positive year over year growth rate of 9.1%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, January 23rd.
On average, analysts expect that Meridian Bancorp will report full-year earnings of $0.89 per share for the current financial year. For the next year, analysts forecast that the company will post earnings of $1.02 per share. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Meridian Bancorp.
Several research firms recently weighed in on EBSB. BidaskClub downgraded Meridian Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday. 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.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 19th will be given a dividend of $0.05 per share. This is an increase from Meridian Bancorp’s previous quarterly dividend of $0.04. The ex-dividend date is Monday, December 18th. This represents a $0.20 annualized dividend and a yield of 1.02%. Meridian Bancorp’s dividend payout ratio (DPR) is presently 18.60%.
In other Meridian Bancorp news, Director Anna R. Dimaria sold 14,690 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $20.16, for a total transaction of $296,150.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marilyn A. Censullo sold 11,929 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $19.95, for a total value of $237,983.55. The disclosure for this sale can be found here. Insiders have sold 41,420 shares of company stock valued at $826,454 in the last three months. 5.10% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in EBSB. Teachers Advisors LLC grew its position in shares of Meridian Bancorp by 2.9% in the first quarter. Teachers Advisors LLC now owns 92,180 shares of the savings and loans company’s stock valued at $1,687,000 after purchasing an additional 2,599 shares during the period. California Public Employees Retirement System grew its position in shares of Meridian Bancorp by 2.5% in the first quarter. California Public Employees Retirement System now owns 53,127 shares of the savings and loans company’s stock valued at $972,000 after purchasing an additional 1,300 shares during the period. Vanguard Group Inc. grew its position in shares of Meridian Bancorp by 7.2% in the first quarter. Vanguard Group Inc. now owns 2,096,411 shares of the savings and loans company’s stock valued at $38,364,000 after purchasing an additional 141,534 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Meridian Bancorp by 10.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 218,505 shares of the savings and loans company’s stock valued at $3,999,000 after purchasing an additional 21,438 shares during the period. Finally, State Street Corp grew its position in shares of Meridian Bancorp by 2.3% in the first quarter. State Street Corp now owns 1,073,277 shares of the savings and loans company’s stock valued at $19,641,000 after purchasing an additional 24,598 shares during the period. 66.13% of the stock is owned by institutional investors and hedge funds.
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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