Russell Investments Group Ltd. raised its position in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 484,592 shares of the savings and loans company’s stock after purchasing an additional 31,400 shares during the period. Russell Investments Group Ltd. owned 0.90% of Meridian Bancorp worth $9,037,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of EBSB. Vanguard Group Inc. raised its position in shares of Meridian Bancorp by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,154,791 shares of the savings and loans company’s stock worth $36,415,000 after buying an additional 58,380 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Meridian Bancorp by 3.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 272,802 shares of the savings and loans company’s stock worth $4,610,000 after buying an additional 10,333 shares in the last quarter. Susquehanna International Group LLP bought a new stake in shares of Meridian Bancorp during the 2nd quarter worth about $540,000. Bain Capital Public Equity Management LLC bought a new stake in shares of Meridian Bancorp during the 2nd quarter worth about $4,056,000. Finally, New York State Common Retirement Fund raised its position in shares of Meridian Bancorp by 13.6% during the 2nd quarter. New York State Common Retirement Fund now owns 64,249 shares of the savings and loans company’s stock worth $1,086,000 after buying an additional 7,668 shares in the last quarter. 66.13% of the stock is owned by hedge funds and other institutional investors.
Shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) opened at $20.00 on Thursday. Meridian Bancorp, Inc. has a 52-week low of $15.85 and a 52-week high of $20.73. The company has a market cap of $1,090.00, a PE ratio of 23.62 and a beta of 0.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.23 and a current ratio of 1.23.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 19th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.00%. This is an increase from Meridian Bancorp’s previous quarterly dividend of $0.04. The ex-dividend date is Monday, December 18th. Meridian Bancorp’s payout ratio is 18.60%.
In related news, Director Anna R. Dimaria sold 14,690 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $20.16, for a total value of $296,150.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard F. Fernandez sold 14,801 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $19.75, for a total transaction of $292,319.75. The disclosure for this sale can be found here. Insiders have sold a total of 41,420 shares of company stock worth $826,454 over the last 90 days. 5.10% of the stock is owned by insiders.
Separately, Keefe, Bruyette & Woods restated a “hold” rating and set a $19.00 price target on shares of Meridian Bancorp in a research report on Thursday, August 31st.
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About Meridian Bancorp
Meridian Bancorp Inc, formerly Meridian Interstate Bancorp, Inc, is a mid-tier stock holding company of East Boston Savings Bank (the Bank). The Bank is a state-chartered stock savings bank that operates from 24 full-service locations and two loan centers in the Boston metropolitan area. East Boston Savings Bank operates eight of its full-service locations and a loan center under the name Mt.
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