Zacks: Brokerages Set $21.50 Target Price for Meridian Bancorp, Inc. (EBSB)

Meridian Bancorp, Inc. (NASDAQ:EBSB) has received an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Brokers have set a one year consensus target price of $21.50 for the company and are forecasting that the company will post $0.23 earnings per share for the current quarter, according to Zacks. Zacks has also given Meridian Bancorp an industry rank of 19 out of 265 based on the ratings given to related companies.

EBSB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $24.50 target price on shares of Meridian Bancorp in a research report on Friday, December 22nd. BidaskClub raised Meridian Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, December 30th.

In other Meridian Bancorp news, Director Anna R. Dimaria sold 14,690 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $20.16, for a total value of $296,150.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory F. Natalucci sold 7,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $20.70, for a total value of $144,900.00. The disclosure for this sale can be found here. Insiders sold 64,462 shares of company stock worth $1,301,621 in the last ninety days. 5.10% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in EBSB. Public Employees Retirement System of Ohio acquired a new stake in Meridian Bancorp during the 2nd quarter valued at $126,000. Prudential Financial Inc. acquired a new stake in Meridian Bancorp during the 2nd quarter valued at $178,000. Simplex Trading LLC raised its stake in Meridian Bancorp by 108.6% during the 3rd quarter. Simplex Trading LLC now owns 10,298 shares of the savings and loans company’s stock valued at $192,000 after purchasing an additional 5,362 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in Meridian Bancorp during the 4th quarter valued at $203,000. Finally, Legal & General Group Plc raised its stake in Meridian Bancorp by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 12,312 shares of the savings and loans company’s stock valued at $208,000 after purchasing an additional 388 shares during the period. 67.06% of the stock is currently owned by institutional investors.

Shares of Meridian Bancorp (EBSB) opened at $19.65 on Tuesday. The firm has a market capitalization of $1,097.00, a P/E ratio of 23.96 and a beta of 0.22. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.23 and a quick ratio of 1.23. Meridian Bancorp has a 52-week low of $15.85 and a 52-week high of $21.85.

Meridian Bancorp (NASDAQ:EBSB) last released its earnings results on Tuesday, January 23rd. The savings and loans company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $48.04 million during the quarter. Meridian Bancorp had a return on equity of 7.96% and a net margin of 20.63%. equities analysts predict that Meridian Bancorp will post 1.02 EPS for the current fiscal year.

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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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