Meridian Bancorp (NASDAQ:EBSB) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday, December 30th.
Separately, Keefe, Bruyette & Woods restated a “hold” rating and issued a $24.50 price target on shares of Meridian Bancorp in a research report on Friday, December 22nd.
Meridian Bancorp (NASDAQ:EBSB) opened at $21.35 on Friday. Meridian Bancorp has a 52-week low of $15.85 and a 52-week high of $21.65. The firm has a market capitalization of $1,152.26, a price-to-earnings ratio of 24.54 and a beta of 0.27. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.23 and a quick ratio of 1.23.
In related news, Director Richard F. Fernandez sold 14,801 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $19.75, for a total transaction of $292,319.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anna R. Dimaria sold 14,690 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $20.16, for a total value of $296,150.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,420 shares of company stock worth $826,454. Corporate insiders own 5.10% of the company’s stock.
A number of large investors have recently modified their holdings of the business. GSA Capital Partners LLP boosted its stake in 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 worth $1,325,000 after buying an additional 19,322 shares during the last quarter. California Public Employees Retirement System boosted its stake in 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 worth $596,000 after buying an additional 3,820 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Meridian Bancorp in the 3rd quarter worth about $259,000. Jane Street Group LLC acquired a new stake in Meridian Bancorp in the 3rd quarter worth about $345,000. Finally, Magnetar Financial LLC acquired a new stake in Meridian Bancorp in the 3rd quarter worth about $257,000. 66.13% of the stock is currently owned by hedge funds and other institutional investors.
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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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