Several other research analysts have also commented on EBSB. Zacks Investment Research upgraded shares of Meridian Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Friday, January 11th. Hovde Group restated a “hold” rating and issued a $15.00 price objective on shares of Meridian Bancorp in a report on Monday, January 28th.
Shares of NASDAQ EBSB opened at $16.92 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.20. Meridian Bancorp has a 12 month low of $13.67 and a 12 month high of $20.45. The firm has a market capitalization of $905.90 million, a price-to-earnings ratio of 15.96 and a beta of 0.50.
Meridian Bancorp (NASDAQ:EBSB) last issued its quarterly earnings data on Tuesday, January 22nd. The savings and loans company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.05). Meridian Bancorp had a return on equity of 8.34% and a net margin of 23.56%. The company had revenue of $42.31 million during the quarter, compared to the consensus estimate of $45.20 million. Equities research analysts expect that Meridian Bancorp will post 1.2 EPS for the current year.
In related news, Director Gregory F. Natalucci sold 7,000 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $15.76, for a total value of $110,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Edward J. Merritt sold 2,800 shares of the stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $15.80, for a total transaction of $44,240.00. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Quantamental Technologies LLC bought a new position in shares of Meridian Bancorp in the 4th quarter worth about $34,000. Baystate Wealth Management LLC increased its stake in shares of Meridian Bancorp by 201.7% in the 4th quarter. Baystate Wealth Management LLC now owns 6,028 shares of the savings and loans company’s stock worth $94,000 after acquiring an additional 4,030 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Meridian Bancorp by 10.3% in the 4th quarter. Legal & General Group Plc now owns 8,597 shares of the savings and loans company’s stock worth $123,000 after acquiring an additional 806 shares in the last quarter. Caxton Associates LP bought a new position in shares of Meridian Bancorp in the 3rd quarter worth about $184,000. Finally, HRT Financial LLC bought a new position in shares of Meridian Bancorp in the 3rd quarter worth about $188,000. Institutional investors own 64.82% of the company’s stock.
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.
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