Meridian Bancorp, Inc. (NASDAQ:EBSB) has earned an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Analysts have set a one year consensus price target of $21.50 for the company and are forecasting that the company will post $0.25 earnings per share for the current quarter, according to Zacks. Zacks has also given Meridian Bancorp an industry rank of 34 out of 265 based on the ratings given to related companies.
EBSB has been the topic of a number of research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $24.50 price target on shares of Meridian Bancorp in a research note on Friday, December 22nd. BidaskClub upgraded shares of Meridian Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, December 30th.
Meridian Bancorp (EBSB) opened at $20.20 on Wednesday. Meridian Bancorp has a 52 week low of $15.85 and a 52 week high of $21.85. The company has a market cap of $1,121.32, a PE ratio of 24.63 and a beta of 0.22. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.74.
Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings results on Tuesday, January 23rd. The savings and loans company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.06. Meridian Bancorp had a net margin of 20.63% and a return on equity of 7.96%. The business had revenue of $48.04 million for the quarter. equities analysts forecast that Meridian Bancorp will post 1.12 earnings per share for the current year.
In other Meridian Bancorp news, Director James G. Sartori sold 15,146 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $20.61, for a total value of $312,159.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory F. Natalucci sold 7,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $20.70, for a total transaction of $144,900.00. The disclosure for this sale can be found here. Insiders sold a total of 49,661 shares of company stock valued at $1,009,301 in the last three months. Insiders own 5.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of EBSB. Teachers Advisors LLC boosted its holdings in Meridian Bancorp by 1.5% in the 2nd quarter. Teachers Advisors LLC now owns 93,554 shares of the savings and loans company’s stock valued at $1,581,000 after purchasing an additional 1,374 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Meridian Bancorp by 0.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 186,424 shares of the savings and loans company’s stock valued at $3,151,000 after purchasing an additional 679 shares during the period. New York State Common Retirement Fund boosted its holdings in Meridian Bancorp by 13.6% in the 2nd quarter. New York State Common Retirement Fund now owns 64,249 shares of the savings and loans company’s stock valued at $1,086,000 after purchasing an additional 7,668 shares during the period. Vanguard Group Inc. boosted its holdings in Meridian Bancorp by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,154,791 shares of the savings and loans company’s stock valued at $36,415,000 after purchasing an additional 58,380 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Meridian Bancorp by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,303,904 shares of the savings and loans company’s stock valued at $38,937,000 after purchasing an additional 164,391 shares during the period. 69.04% of the stock is owned by hedge funds and other institutional investors.
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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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