Shares of Meridian Bancorp Inc (NASDAQ:EBSB) have been given a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation. Meridian Bancorp’s rating score has declined by 50% in the last three months as a result of various analysts’ upgrades and downgrades.
Analysts have set a 1-year consensus price target of $18.50 for the company and are forecasting that the company will post $0.30 EPS for the current quarter, according to Zacks. Zacks has also assigned Meridian Bancorp an industry rank of 104 out of 257 based on the ratings given to related companies.
Several research firms recently weighed in on EBSB. BidaskClub raised Meridian Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. ValuEngine cut Meridian Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Finally, Zacks Investment Research cut Meridian Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd.
Institutional investors and hedge funds have recently modified their holdings of the stock. Hennessy Advisors Inc. increased its stake in Meridian Bancorp by 1.1% during 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 acquiring an additional 5,000 shares during the period. First Trust Advisors LP increased its stake in Meridian Bancorp by 20.3% during the second quarter. First Trust Advisors LP now owns 191,072 shares of the savings and loans company’s stock valued at $3,659,000 after acquiring an additional 32,269 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Meridian Bancorp by 5.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 281,955 shares of the savings and loans company’s stock valued at $5,400,000 after acquiring an additional 14,431 shares during the period. Strs Ohio increased its stake in Meridian Bancorp by 8.9% during the second quarter. Strs Ohio now owns 47,500 shares of the savings and loans company’s stock valued at $909,000 after acquiring an additional 3,900 shares during the period. Finally, Renaissance Technologies LLC increased its stake in 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 valued at $41,199,000 after acquiring an additional 54,500 shares during the period. Hedge funds and other institutional investors own 64.57% of the company’s stock.
Shares of NASDAQ:EBSB traded up $0.04 on Thursday, reaching $15.98. The company had a trading volume of 16,961 shares, compared to its average volume of 213,565. Meridian Bancorp has a twelve month low of $15.25 and a twelve month high of $21.85. The stock has a market capitalization of $858.39 million, a P/E ratio of 16.82 and a beta of 0.17. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.24 and a quick ratio of 1.24.
Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings data on Tuesday, October 23rd. The savings and loans company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. Meridian Bancorp had a return on equity of 8.99% and a net margin of 22.37%. The business had revenue of $45.04 million during the quarter, compared to analysts’ expectations of $45.10 million. As a group, research analysts expect that Meridian Bancorp will post 1.12 EPS for the current fiscal year.
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.
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