Eagle Asset Management Inc. trimmed its position in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 410,726 shares of the savings and loans company’s stock after selling 34,254 shares during the period. Eagle Asset Management Inc. owned approximately 0.76% of Meridian Bancorp worth $8,460,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in Meridian Bancorp by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 37,790 shares of the savings and loans company’s stock valued at $639,000 after acquiring an additional 597 shares during the period. TIAA CREF Investment Management LLC increased its stake in Meridian Bancorp by 0.4% during the second quarter. TIAA CREF Investment Management LLC now owns 186,424 shares of the savings and loans company’s stock valued at $3,151,000 after acquiring an additional 679 shares during the period. Teachers Advisors LLC increased its stake in Meridian Bancorp by 1.5% during the second quarter. Teachers Advisors LLC now owns 93,554 shares of the savings and loans company’s stock valued at $1,581,000 after acquiring an additional 1,374 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in Meridian Bancorp by 7.9% during the third quarter. Dynamic Technology Lab Private Ltd now owns 36,169 shares of the savings and loans company’s stock valued at $674,000 after acquiring an additional 2,652 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Meridian Bancorp by 1.2% during the second quarter. Goldman Sachs Group Inc. now owns 242,777 shares of the savings and loans company’s stock valued at $4,103,000 after acquiring an additional 2,842 shares during the period. Hedge funds and other institutional investors own 69.04% of the company’s stock.
In other news, Director Gregory F. Natalucci sold 7,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James G. Sartori sold 15,146 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $20.61, for a total value of $312,159.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,661 shares of company stock worth $1,009,301. Corporate insiders own 5.10% of the company’s stock.
Several brokerages recently issued reports on EBSB. BidaskClub lowered Meridian Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods restated a “hold” rating and set a $24.00 price target on shares of Meridian Bancorp in a research note on Thursday, January 25th.
Meridian Bancorp, Inc. (NASDAQ EBSB) opened at $20.55 on Thursday. Meridian Bancorp, Inc. has a 12 month low of $15.85 and a 12 month high of $21.85. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $1,091.59, a PE ratio of 21.26 and a beta of 0.22.
Meridian Bancorp (NASDAQ:EBSB) last issued its quarterly earnings results on Tuesday, January 23rd. The savings and loans company reported $0.30 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $48.04 million for the quarter. equities analysts anticipate that Meridian Bancorp, Inc. will post 1.12 EPS for the current fiscal year.
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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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