Meridian Bancorp, Inc. (NASDAQ:EBSB) has earned an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.
Analysts have set a 12 month consensus price target of $21.50 for the company and are forecasting that the company will post $0.25 EPS for the current quarter, according to Zacks. Zacks has also given Meridian Bancorp an industry rank of 87 out of 265 based on the ratings given to related companies.
EBSB has been the subject of a number of research analyst reports. BidaskClub cut Meridian Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $24.50 target price on shares of Meridian Bancorp in a research note on Friday, December 22nd.
Meridian Bancorp (NASDAQ:EBSB) last released its quarterly earnings data on Tuesday, January 23rd. The savings and loans company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Meridian Bancorp had a return on equity of 7.90% and a net margin of 20.63%. The business had revenue of $48.04 million during the quarter. equities analysts expect that Meridian Bancorp will post 1.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Tuesday, March 20th will be paid a $0.05 dividend. The ex-dividend date is Monday, March 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.99%. Meridian Bancorp’s payout ratio is 24.39%.
In other Meridian Bancorp news, Director Gregory F. Natalucci sold 7,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $20.70, for a total value of $144,900.00. The transaction was disclosed in a legal filing 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 dated Friday, January 26th. The shares were sold at an average price of $20.61, for a total value of $312,159.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,042 shares of company stock valued at $475,167. Insiders own 5.10% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB acquired a new position in Meridian Bancorp in the fourth quarter valued at about $201,000. MetLife Investment Advisors LLC acquired a new position in shares of Meridian Bancorp during the fourth quarter worth about $480,000. TIAA CREF Investment Management LLC boosted its position in shares of Meridian Bancorp by 8.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 345,392 shares of the savings and loans company’s stock worth $7,115,000 after buying an additional 27,416 shares during the period. Two Sigma Investments LP boosted its position in shares of Meridian Bancorp by 9.4% during the fourth quarter. Two Sigma Investments LP now owns 162,435 shares of the savings and loans company’s stock worth $3,346,000 after buying an additional 13,963 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of Meridian Bancorp by 5.2% during the fourth quarter. Two Sigma Advisers LP now owns 165,051 shares of the savings and loans company’s stock worth $3,400,000 after buying an additional 8,096 shares during the period. 67.40% of the stock is owned by hedge funds and other institutional investors.
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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