Bain Capital Public Equity Management LLC lowered its position in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,021 shares of the savings and loans company’s stock after selling 15,240 shares during the period. Bain Capital Public Equity Management LLC owned 0.37% of Meridian Bancorp worth $4,100,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Jane Street Group LLC bought a new stake in Meridian Bancorp during the third quarter valued at approximately $345,000. Nationwide Fund Advisors lifted its position in Meridian Bancorp by 52.9% during the third quarter. Nationwide Fund Advisors now owns 52,142 shares of the savings and loans company’s stock valued at $972,000 after purchasing an additional 18,033 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Meridian Bancorp by 5.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 233,300 shares of the savings and loans company’s stock valued at $4,352,000 after purchasing an additional 12,517 shares during the last quarter. Eagle Asset Management Inc. lifted its position in Meridian Bancorp by 17.5% during the third quarter. Eagle Asset Management Inc. now owns 444,980 shares of the savings and loans company’s stock valued at $8,387,000 after purchasing an additional 66,387 shares during the last quarter. Finally, Citadel Advisors LLC lifted its position in Meridian Bancorp by 45.2% during the third quarter. Citadel Advisors LLC now owns 78,915 shares of the savings and loans company’s stock valued at $1,471,000 after purchasing an additional 24,577 shares during the last quarter. 67.40% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Meridian Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $24.00 target price on shares of Meridian Bancorp in a research report on Thursday, January 25th.
Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings data on Tuesday, January 23rd. The savings and loans company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.06. The firm had revenue of $48.04 million during the quarter. Meridian Bancorp had a net margin of 20.63% and a return on equity of 7.90%. research analysts predict that Meridian Bancorp, Inc. will post 1.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Tuesday, March 20th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.98%. Meridian Bancorp’s payout ratio is 24.39%.
In other news, Director Gregory F. Natalucci sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $20.70, for a total value of $144,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James G. Sartori sold 15,146 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $20.61, for a total transaction of $312,159.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,042 shares of company stock valued at $475,167. Company insiders own 5.10% of the company’s stock.
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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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