First Trust Advisors LP increased its stake in Meridian Bancorp, Inc. (NASDAQ:EBSB) by 59.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,551 shares of the savings and loans company’s stock after acquiring an additional 47,158 shares during the quarter. First Trust Advisors LP owned approximately 0.23% of Meridian Bancorp worth $2,607,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp grew its holdings in shares of Meridian Bancorp by 3.8% during the second quarter. State Street Corp now owns 1,113,653 shares of the savings and loans company’s stock worth $18,822,000 after buying an additional 40,376 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Meridian Bancorp by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 37,790 shares of the savings and loans company’s stock worth $639,000 after buying an additional 597 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Meridian Bancorp during the second quarter worth $126,000. Nationwide Fund Advisors grew its holdings in shares of Meridian Bancorp by 52.9% during the third quarter. Nationwide Fund Advisors now owns 52,142 shares of the savings and loans company’s stock worth $972,000 after buying an additional 18,033 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Meridian Bancorp by 6.9% during the third quarter. Russell Investments Group Ltd. now owns 484,592 shares of the savings and loans company’s stock worth $9,037,000 after buying an additional 31,400 shares in the last quarter. 67.40% of the stock is owned by institutional investors.
Meridian Bancorp, Inc. (NASDAQ EBSB) opened at $20.55 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.79. The firm has a market cap of $1,108.23, a PE ratio of 21.58 and a beta of 0.25. Meridian Bancorp, Inc. has a 1 year low of $15.85 and a 1 year high of $21.85.
Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings results on Tuesday, January 23rd. The savings and loans company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $48.04 million for the quarter. Meridian Bancorp had a net margin of 20.63% and a return on equity of 7.90%. analysts expect that Meridian Bancorp, Inc. will post 1.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Tuesday, March 20th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.97%. Meridian Bancorp’s payout ratio is 24.39%.
A number of equities research analysts have recently issued reports on EBSB shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $24.50 target price on shares of Meridian Bancorp in a report on Friday, December 22nd. BidaskClub raised shares of Meridian Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, December 30th.
In other 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 transaction of $312,159.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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. In the last three months, insiders have sold 23,042 shares of company stock worth $475,167. Corporate insiders own 5.10% of the company’s stock.
Meridian Bancorp Company Profile
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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