Shares of Meridian Bancorp Inc (NASDAQ:EBSB) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating. Meridian Bancorp’s rating score has improved by 66.7% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 12 month consensus price target of $20.00 for the company and are anticipating that the company will post $0.31 EPS for the current quarter, according to Zacks. Zacks has also assigned Meridian Bancorp an industry rank of 164 out of 256 based on the ratings given to its competitors.
Several research firms recently commented on EBSB. ValuEngine upgraded Meridian Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Piper Jaffray Companies upgraded Meridian Bancorp from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $18.50 to $20.00 in a research report on Tuesday, July 2nd. BidaskClub cut Meridian Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, Zacks Investment Research cut Meridian Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday.
Institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System grew its position in Meridian Bancorp by 63.0% during the fourth quarter. California Public Employees Retirement System now owns 51,731 shares of the savings and loans company’s stock worth $741,000 after buying an additional 19,996 shares in the last quarter. Eukles Asset Management purchased a new position in Meridian Bancorp during the first quarter worth about $194,000. Bank of New York Mellon Corp grew its position in Meridian Bancorp by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 287,351 shares of the savings and loans company’s stock worth $4,115,000 after buying an additional 8,966 shares in the last quarter. Kessler Investment Group LLC grew its position in Meridian Bancorp by 14.4% during the first quarter. Kessler Investment Group LLC now owns 10,963 shares of the savings and loans company’s stock worth $172,000 after buying an additional 1,382 shares in the last quarter. Finally, Castine Capital Management LLC purchased a new position in Meridian Bancorp during the first quarter worth about $5,193,000. Institutional investors and hedge funds own 65.19% of the company’s stock.
Shares of NASDAQ EBSB traded down $0.06 during mid-day trading on Monday, hitting $17.75. The company had a trading volume of 48,603 shares, compared to its average volume of 138,955. The firm has a market capitalization of $960.02 million, a P/E ratio of 16.75 and a beta of 0.52. Meridian Bancorp has a 1 year low of $13.67 and a 1 year high of $19.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.20 and a quick ratio of 1.20. The business’s 50-day simple moving average is $18.26.
Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.01). The company had revenue of $45.42 million during the quarter, compared to analysts’ expectations of $47.10 million. Meridian Bancorp had a net margin of 22.96% and a return on equity of 8.82%. As a group, research analysts forecast that Meridian Bancorp will post 1.23 earnings per share for the current year.
Meridian Bancorp Company Profile
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 Suffolk, Norfolk, Middlesex and Essex 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.
Read More: What is Compound Annual Growth Rate (CAGR)?
Get a free copy of the Zacks research report on Meridian Bancorp (EBSB)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Meridian Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meridian Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.