Meridian Bancorp Inc (NASDAQ:EBSB) announced a quarterly dividend on Friday, May 31st, NASDAQ reports. Investors of record on Tuesday, June 18th will be paid a dividend of 0.07 per share by the savings and loans company on Tuesday, July 2nd. This represents a $0.28 annualized dividend and a yield of 1.59%. The ex-dividend date is Monday, June 17th.
Meridian Bancorp has raised its dividend by an average of 88.2% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Meridian Bancorp has a payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Meridian Bancorp to earn $1.40 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 20.0%.
Shares of NASDAQ EBSB traded up $0.14 during mid-day trading on Wednesday, reaching $17.58. The company’s stock had a trading volume of 2,731 shares, compared to its average volume of 141,148. The stock has a market capitalization of $932.71 million, a price-to-earnings ratio of 16.55 and a beta of 0.50. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.77. Meridian Bancorp has a 1-year low of $13.67 and a 1-year high of $20.30.
Meridian Bancorp (NASDAQ:EBSB) last issued its earnings results on Tuesday, April 23rd. The savings and loans company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. The business had revenue of $46.43 million during the quarter, compared to analysts’ expectations of $46.00 million. Meridian Bancorp had a net margin of 23.48% and a return on equity of 8.70%. As a group, equities research analysts expect that Meridian Bancorp will post 1.26 EPS for the current year.
Several brokerages have issued reports on EBSB. BidaskClub raised shares of Meridian Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, May 30th. ValuEngine raised shares of Meridian Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Finally, Zacks Investment Research raised shares of Meridian Bancorp from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a research note on Friday, April 26th.
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Meridian Bancorp Company Profile
Meridian Bancorp, Inc operates as the holding company for East Boston Savings Bank that provides various financial products and services for individuals and businesses primarily in Suffolk, Norfolk, Middlesex and Essex Counties, Massachusetts. The company accepts various deposit products, including non-interest-bearing demand deposits, such as checking accounts; interest-bearing demand accounts comprising NOW and money market accounts; savings accounts; and certificates of deposits, as well as commercial checking accounts.
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