Brokers Issue Forecasts for Meridian Bancorp Inc’s FY2018 Earnings (EBSB)

Meridian Bancorp Inc (NASDAQ:EBSB) – Analysts at Piper Jaffray Companies lifted their FY2018 earnings per share estimates for Meridian Bancorp in a report issued on Tuesday, October 30th. Piper Jaffray Companies analyst M. Breese now forecasts that the savings and loans company will earn $1.12 per share for the year, up from their previous forecast of $1.06. Piper Jaffray Companies also issued estimates for Meridian Bancorp’s Q4 2018 earnings at $0.30 EPS, Q1 2020 earnings at $0.30 EPS, Q2 2020 earnings at $0.33 EPS, Q3 2020 earnings at $0.35 EPS and FY2020 earnings at $1.35 EPS.

Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings data on Tuesday, October 23rd. The savings and loans company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. Meridian Bancorp had a return on equity of 9.07% and a net margin of 22.37%. The business had revenue of $45.04 million for the quarter, compared to the consensus estimate of $45.10 million.

Several other equities analysts also recently commented on EBSB. BidaskClub downgraded Meridian Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. ValuEngine downgraded Meridian Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Finally, Zacks Investment Research downgraded Meridian Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd.

Meridian Bancorp stock opened at $16.11 on Wednesday. Meridian Bancorp has a 12 month low of $15.25 and a 12 month high of $21.85. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $869.34 million, a P/E ratio of 16.96 and a beta of 0.11.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Meridian Bancorp by 8.8% in the second quarter. BlackRock Inc. now owns 3,677,833 shares of the savings and loans company’s stock valued at $70,430,000 after purchasing an additional 298,381 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Meridian Bancorp by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,676,878 shares of the savings and loans company’s stock worth $51,263,000 after acquiring an additional 145,466 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Meridian Bancorp by 2.6% during the second quarter. Renaissance Technologies LLC now owns 2,151,358 shares of the savings and loans company’s stock worth $41,199,000 after acquiring an additional 54,500 shares in the last quarter. Monarch Partners Asset Management LLC lifted its position in shares of Meridian Bancorp by 63.9% during the third quarter. Monarch Partners Asset Management LLC now owns 1,226,226 shares of the savings and loans company’s stock worth $20,846,000 after acquiring an additional 477,852 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Meridian Bancorp by 8.1% during the second quarter. Northern Trust Corp now owns 657,597 shares of the savings and loans company’s stock worth $12,593,000 after acquiring an additional 49,430 shares in the last quarter. Institutional investors and hedge funds own 67.09% of the company’s stock.

About Meridian Bancorp

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.

Further Reading: Moving Average (MA)

Earnings History and Estimates for Meridian Bancorp (NASDAQ:EBSB)

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