Shares of Meridian Bancorp Inc (NASDAQ:EBSB) reached a new 52-week low on Friday . The stock traded as low as $15.61 and last traded at $15.86, with a volume of 5764 shares. The stock had previously closed at $16.03.
Several analysts have recently weighed in on EBSB shares. Zacks Investment Research raised shares of Meridian Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. BidaskClub raised shares of Meridian Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. Finally, ValuEngine lowered shares of Meridian Bancorp from a “hold” rating to a “sell” rating in a report on Friday, August 3rd.
The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $880.13 million, a price-to-earnings ratio of 16.77 and a beta of 0.11.
Meridian Bancorp (NASDAQ:EBSB) last issued its quarterly earnings results on Thursday, July 26th. The savings and loans company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $43.91 million during the quarter, compared to analyst estimates of $43.80 million. Meridian Bancorp had a net margin of 21.43% and a return on equity of 8.50%. Equities research analysts anticipate that Meridian Bancorp Inc will post 1.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Tuesday, September 18th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Monday, September 17th. Meridian Bancorp’s dividend payout ratio is currently 21.05%.
Several institutional investors have recently modified their holdings of the stock. Hennessy Advisors Inc. increased its holdings in shares of Meridian Bancorp by 1.1% in the third quarter. Hennessy Advisors Inc. now owns 450,000 shares of the savings and loans company’s stock valued at $7,650,000 after purchasing an additional 5,000 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Meridian Bancorp by 8.1% in the second quarter. Northern Trust Corp now owns 657,597 shares of the savings and loans company’s stock valued at $12,593,000 after purchasing an additional 49,430 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Meridian Bancorp by 26.0% in the second quarter. Millennium Management LLC now owns 301,420 shares of the savings and loans company’s stock valued at $5,772,000 after purchasing an additional 62,146 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Meridian Bancorp in the second quarter valued at approximately $111,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Meridian Bancorp by 2.6% in the second quarter. Renaissance Technologies LLC now owns 2,151,358 shares of the savings and loans company’s stock valued at $41,199,000 after purchasing an additional 54,500 shares in the last quarter. 67.09% of the stock is owned by institutional investors and hedge funds.
Meridian Bancorp Company Profile (NASDAQ:EBSB)
Meridian Bancorp, Inc operates as the holding company for East Boston Savings Bank that provides various financial products and services for individuals and businesses primarily in Essex, Middlesex, Norfolk, and Suffolk Counties, Massachusetts. The company accepts various deposit products, including non-interest-bearing demand deposits, such as checking accounts; interest-bearing demand accounts comprising NOW and money market accounts; savings accounts; and certificates of deposits, as well as commercial checking accounts.
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