Meridian Bancorp (NASDAQ:EBSB) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, March 14th.
Separately, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $24.00 price target on shares of Meridian Bancorp in a report on Thursday, January 25th.
Shares of Meridian Bancorp (EBSB) traded down $0.20 during mid-day trading on Wednesday, reaching $20.25. The company had a trading volume of 63,970 shares, compared to its average volume of 244,521. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.23 and a quick ratio of 1.23. Meridian Bancorp has a 52-week low of $15.85 and a 52-week high of $21.85. The firm has a market capitalization of $1,108.23, a price-to-earnings ratio of 24.78 and a beta of 0.25.
Meridian Bancorp (NASDAQ:EBSB) last released its earnings results on Tuesday, January 23rd. The savings and loans company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.06. Meridian Bancorp had a return on equity of 7.90% and a net margin of 20.63%. The firm had revenue of $48.04 million during the quarter. equities research analysts anticipate that Meridian Bancorp will post 1.12 earnings per share for the current year.
In other news, Director Gregory F. Natalucci sold 7,000 shares of the business’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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James G. Sartori sold 15,146 shares of the business’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 disclosure for this sale can be found here. In the last three months, insiders have sold 23,042 shares of company stock valued at $475,167. Insiders own 5.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Meridian Bancorp in the 2nd quarter valued at $126,000. Xact Kapitalforvaltning AB acquired a new position in Meridian Bancorp in the 4th quarter worth $201,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Meridian Bancorp during the 4th quarter worth about $203,000. Commerce Bank acquired a new stake in Meridian Bancorp in the 4th quarter valued at about $230,000. Finally, SG Americas Securities LLC acquired a new stake in Meridian Bancorp in the 3rd quarter valued at about $237,000. Institutional investors and hedge funds own 67.29% 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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