BidaskClub downgraded shares of Meridian Bancorp (NASDAQ:EBSB) from a buy rating to a hold rating in a research note issued to investors on Thursday.
Separately, Keefe, Bruyette & Woods reissued a hold rating and issued a $19.00 target price on shares of Meridian Bancorp in a research report on Thursday, August 31st.
Shares of Meridian Bancorp (NASDAQ EBSB) traded down $0.15 during trading hours on Thursday, reaching $19.65. The company’s stock had a trading volume of 244,300 shares, compared to its average volume of 162,716. Meridian Bancorp has a fifty-two week low of $15.85 and a fifty-two week high of $20.73. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.74. The stock has a market cap of $1,060.52, a price-to-earnings ratio of 22.59 and a beta of 0.27.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 19th will be paid a dividend of $0.05 per share. This is an increase from Meridian Bancorp’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Monday, December 18th. Meridian Bancorp’s payout ratio is currently 18.39%.
In other Meridian Bancorp news, Director Richard F. Fernandez sold 14,801 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $19.75, for a total transaction of $292,319.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Marilyn A. Censullo sold 11,929 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $19.95, for a total value of $237,983.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,420 shares of company stock valued at $826,454. Corporate insiders own 5.10% of the company’s stock.
Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its stake in shares of Meridian Bancorp by 2,313.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,938 shares of the savings and loans company’s stock valued at $100,000 after acquiring an additional 5,692 shares during the period. Public Employees Retirement System of Ohio bought a new position in Meridian Bancorp in the 2nd quarter worth approximately $126,000. Banc Funds Co. LLC bought a new position in Meridian Bancorp in the 2nd quarter worth approximately $169,000. Wolverine Trading LLC bought a new position in Meridian Bancorp in the 2nd quarter worth approximately $173,000. Finally, Prudential Financial Inc. bought a new position in Meridian Bancorp in the 2nd quarter worth approximately $178,000. Institutional investors own 66.13% of the company’s stock.
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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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