Meridian Bancorp (EBSB) Lowered to “Hold” at BidaskClub

BidaskClub cut shares of Meridian Bancorp (NASDAQ:EBSB) from a buy rating to a hold rating in a research note published on Thursday morning.

Separately, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $19.00 price objective on shares of Meridian Bancorp in a research report on Thursday, August 31st.

Meridian Bancorp (NASDAQ:EBSB) traded down $0.15 during trading hours on Thursday, hitting $19.65. The stock had a trading volume of 244,381 shares, compared to its average volume of 162,716. The firm has a market cap of $1,079.40, a PE ratio of 22.99 and a beta of 0.27. Meridian Bancorp has a twelve month low of $15.85 and a twelve month high of $20.73. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.74.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Tuesday, December 19th will be issued a $0.05 dividend. This is an increase from Meridian Bancorp’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Monday, December 18th. Meridian Bancorp’s payout ratio is presently 18.39%.

In other news, Director Anna R. Dimaria sold 14,690 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marilyn A. Censullo sold 11,929 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $19.95, for a total value of $237,983.55. The disclosure for this sale can be found here. Insiders sold a total of 41,420 shares of company stock valued at $826,454 over the last three months. Company insiders own 5.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP lifted its holdings in shares of Meridian Bancorp by 37.4% in the 3rd quarter. GSA Capital Partners LLP now owns 71,050 shares of the savings and loans company’s stock valued at $1,325,000 after purchasing an additional 19,322 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Meridian Bancorp by 13.6% in the 3rd quarter. California Public Employees Retirement System now owns 31,947 shares of the savings and loans company’s stock valued at $596,000 after purchasing an additional 3,820 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Meridian Bancorp during the 3rd quarter valued at approximately $259,000. Jane Street Group LLC purchased a new stake in Meridian Bancorp during the 3rd quarter valued at approximately $345,000. Finally, Magnetar Financial LLC purchased a new stake in Meridian Bancorp during the 3rd quarter valued at approximately $257,000. 66.13% of the stock is owned by institutional investors and hedge funds.

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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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