ClariVest Asset Management LLC bought a new position in Meridian Bancorp, Inc. (NASDAQ:EBSB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 39,672 shares of the savings and loans company’s stock, valued at approximately $740,000. ClariVest Asset Management LLC owned 0.07% of Meridian Bancorp at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in Meridian Bancorp by 2,313.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,938 shares of the savings and loans company’s stock worth $100,000 after purchasing an additional 5,692 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Meridian Bancorp in the 2nd quarter worth $126,000. Banc Funds Co. LLC acquired a new position in Meridian Bancorp in the 2nd quarter worth $169,000. Wolverine Trading LLC acquired a new position in Meridian Bancorp in the 2nd quarter worth $173,000. Finally, Simplex Trading LLC boosted its stake in Meridian Bancorp by 108.6% in the 3rd quarter. Simplex Trading LLC now owns 10,298 shares of the savings and loans company’s stock worth $192,000 after purchasing an additional 5,362 shares during the period. 66.13% of the stock is owned by hedge funds and other institutional investors.
Shares of Meridian Bancorp, Inc. (EBSB) traded down $0.20 during trading hours on Thursday, reaching $19.80. 185,400 shares of the company’s stock traded hands, compared to its average volume of 162,331. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.74. Meridian Bancorp, Inc. has a 52-week low of $15.85 and a 52-week high of $20.73. The company has a market cap of $1,087.50, a PE ratio of 23.16 and a beta of 0.27.
The firm 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. The ex-dividend date of this dividend is Monday, December 18th. This is a boost from Meridian Bancorp’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 1.01%. Meridian Bancorp’s payout ratio is 18.39%.
Separately, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.00 target price on shares of Meridian Bancorp in a research note on Thursday, August 31st.
In other Meridian Bancorp news, Director Anna R. Dimaria sold 14,690 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $20.16, for a total transaction of $296,150.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard F. Fernandez sold 14,801 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $19.75, for a total transaction of $292,319.75. The disclosure for this sale can be found here. Insiders have sold a total of 41,420 shares of company stock worth $826,454 over the last three months. 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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