California State Teachers Retirement System lowered its holdings in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,892 shares of the savings and loans company’s stock after selling 7,992 shares during the period. California State Teachers Retirement System owned approximately 0.14% of Meridian Bancorp worth $1,434,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. OxFORD Asset Management LLP bought a new stake in shares of Meridian Bancorp in the 3rd quarter worth $850,000. Dimensional Fund Advisors LP grew its holdings in shares of Meridian Bancorp by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,463,379 shares of the savings and loans company’s stock worth $45,943,000 after acquiring an additional 159,475 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Meridian Bancorp by 5.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 233,300 shares of the savings and loans company’s stock worth $4,352,000 after acquiring an additional 12,517 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Meridian Bancorp by 24.0% in the 3rd quarter. Wells Fargo & Company MN now owns 55,775 shares of the savings and loans company’s stock worth $1,040,000 after acquiring an additional 10,801 shares during the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of Meridian Bancorp by 45.2% in the 3rd quarter. Citadel Advisors LLC now owns 78,915 shares of the savings and loans company’s stock worth $1,471,000 after acquiring an additional 24,577 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director James G. Sartori sold 15,146 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $20.61, for a total value of $312,159.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gregory F. Natalucci sold 7,000 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $20.70, for a total value of $144,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,462 shares of company stock worth $1,301,621. Corporate insiders own 5.10% of the company’s stock.
Meridian Bancorp, Inc. (EBSB) traded up $0.50 during midday trading on Wednesday, hitting $20.55. The company had a trading volume of 232,377 shares, compared to its average volume of 285,127. Meridian Bancorp, Inc. has a fifty-two week low of $15.85 and a fifty-two week high of $21.85. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.74. The firm has a market cap of $1,080.00, a PE ratio of 23.90 and a beta of 0.58.
Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings data on Tuesday, January 23rd. The savings and loans company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.06. Meridian Bancorp had a return on equity of 7.96% and a net margin of 20.63%. The business had revenue of $48.04 million during the quarter. sell-side analysts predict that Meridian Bancorp, Inc. will post 1.12 earnings per share for the current fiscal year.
A number of research analysts have recently weighed in on EBSB shares. BidaskClub downgraded Meridian Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $24.50 price objective on shares of Meridian Bancorp in a research report on Friday, December 22nd.
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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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