EBSB has been the topic of several other research reports. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Monday, May 13th. Piper Jaffray Companies set a $8.00 target price on shares of Ocular Therapeutix and gave the stock a buy rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Meridian Bancorp presently has an average rating of Buy and an average price target of $18.67.
NASDAQ EBSB opened at $18.99 on Friday. 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 firm has a market capitalization of $1.02 billion, a PE ratio of 17.92 and a beta of 0.50. The company has a 50 day simple moving average of $17.75. Meridian Bancorp has a 12-month low of $13.67 and a 12-month high of $19.32.
Meridian Bancorp (NASDAQ:EBSB) last issued its quarterly earnings data on Tuesday, April 23rd. The savings and loans company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. Meridian Bancorp had a net margin of 23.48% and a return on equity of 8.70%. The business had revenue of $46.43 million during the quarter, compared to analysts’ expectations of $46.00 million. On average, analysts expect that Meridian Bancorp will post 1.28 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were given a dividend of $0.07 per share. The ex-dividend date was Monday, June 17th. This represents a $0.28 dividend on an annualized basis and a yield of 1.47%. Meridian Bancorp’s payout ratio is presently 26.42%.
Several hedge funds have recently made changes to their positions in EBSB. Rhumbline Advisers grew its position in Meridian Bancorp by 48.3% in the fourth quarter. Rhumbline Advisers now owns 69,029 shares of the savings and loans company’s stock valued at $988,000 after acquiring an additional 22,473 shares during the last quarter. Prudential Financial Inc. grew its position in Meridian Bancorp by 9.0% in the fourth quarter. Prudential Financial Inc. now owns 11,440 shares of the savings and loans company’s stock valued at $164,000 after acquiring an additional 945 shares during the last quarter. California Public Employees Retirement System grew its position in Meridian Bancorp by 63.0% in the fourth quarter. California Public Employees Retirement System now owns 51,731 shares of the savings and loans company’s stock valued at $741,000 after acquiring an additional 19,996 shares during the last quarter. BlackRock Inc. grew its position in Meridian Bancorp by 8.3% in the fourth quarter. BlackRock Inc. now owns 4,063,915 shares of the savings and loans company’s stock valued at $58,195,000 after acquiring an additional 310,533 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Meridian Bancorp by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 287,351 shares of the savings and loans company’s stock valued at $4,115,000 after acquiring an additional 8,966 shares during the last quarter. 65.37% of the stock is owned by institutional investors.
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 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.
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