Meridian Bancorp (NASDAQ:EBSB) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
Separately, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $24.50 price target on shares of Meridian Bancorp in a research note on Friday, December 22nd.
EBSB stock opened at $20.45 on Wednesday. Meridian Bancorp has a 1 year low of $15.85 and a 1 year high of $21.85. The stock has a market cap of $1,108.23, a price-to-earnings ratio of 21.58 and a beta of 0.25. 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 (NASDAQ:EBSB) last posted its quarterly earnings results 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. The business had revenue of $48.04 million during the quarter. Meridian Bancorp had a net margin of 20.63% and a return on equity of 7.90%. analysts predict that Meridian Bancorp will post 1.12 EPS for the current fiscal year.
In other Meridian Bancorp news, Director James G. Sartori sold 15,146 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $20.61, for a total value of $312,159.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory F. Natalucci sold 7,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $20.70, for a total transaction of $144,900.00. The disclosure for this sale can be found here. Insiders sold 23,042 shares of company stock valued at $475,167 over the last three months. 5.10% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB bought a new stake in Meridian Bancorp in the fourth quarter worth $201,000. C M Bidwell & Associates Ltd. bought a new stake in Meridian Bancorp in the fourth quarter worth $203,000. Commerce Bank bought a new position in shares of Meridian Bancorp during the fourth quarter valued at about $230,000. SG Americas Securities LLC bought a new position in shares of Meridian Bancorp during the third quarter valued at about $237,000. Finally, Stone Ridge Asset Management LLC bought a new position in shares of Meridian Bancorp during the fourth quarter valued at about $247,000. 67.29% of the stock is owned by institutional investors and hedge funds.
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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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