Bessemer Group Inc. lifted its holdings in Meridian Bancorp Inc (NASDAQ:EBSB) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,800 shares of the savings and loans company’s stock after buying an additional 1,800 shares during the period. Bessemer Group Inc. owned about 0.21% of Meridian Bancorp worth $2,054,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Castine Capital Management LLC bought a new position in Meridian Bancorp during the 1st quarter valued at about $5,193,000. BlackRock Inc. grew its holdings in Meridian Bancorp by 8.3% during the 4th quarter. BlackRock Inc. now owns 4,063,915 shares of the savings and loans company’s stock valued at $58,195,000 after purchasing an additional 310,533 shares during the last quarter. Martingale Asset Management L P bought a new position in Meridian Bancorp during the 1st quarter valued at about $3,647,000. Dimensional Fund Advisors LP grew its holdings in Meridian Bancorp by 7.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,957,866 shares of the savings and loans company’s stock valued at $42,357,000 after purchasing an additional 194,621 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Meridian Bancorp by 293.0% during the 1st quarter. Acadian Asset Management LLC now owns 208,661 shares of the savings and loans company’s stock valued at $3,275,000 after purchasing an additional 155,566 shares during the last quarter. Hedge funds and other institutional investors own 65.28% of the company’s stock.
Shares of EBSB traded up $0.19 during mid-day trading on Friday, hitting $18.35. The company’s stock had a trading volume of 3,831 shares, compared to its average volume of 144,449. Meridian Bancorp Inc has a 52-week low of $13.67 and a 52-week high of $19.32. The company has a 50-day moving average price of $18.11. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.77. The company has a market cap of $974.43 million, a price-to-earnings ratio of 17.16 and a beta of 0.50.
Meridian Bancorp (NASDAQ:EBSB) last posted its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.01). Meridian Bancorp had a net margin of 22.96% and a return on equity of 8.82%. The firm had revenue of $45.42 million for the quarter, compared to analysts’ expectations of $47.10 million. Research analysts expect that Meridian Bancorp Inc will post 1.28 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th were given a dividend of $0.07 per share. The ex-dividend date was Monday, June 17th. This represents a $0.28 dividend on an annualized basis and a yield of 1.53%. Meridian Bancorp’s payout ratio is 26.42%.
Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. BidaskClub upgraded shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Piper Jaffray Companies set a $8.00 target price on shares of Ocular Therapeutix and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $18.67.
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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