Meridian Bancorp Inc. (NASDAQ:EBSB) has received a consensus broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating.
Brokerages have set a 12-month consensus price target of $16.00 for the company and are predicting that the company will post $0.15 earnings per share for the current quarter, according to Zacks. Zacks has also given Meridian Bancorp an industry rank of 190 out of 265 based on the ratings given to related companies.
A number of institutional investors have recently bought and sold shares of EBSB. Emerald Acquisition Ltd. purchased a new position in Meridian Bancorp during the second quarter worth $8,455,000. Cannell Peter B & Co. Inc. raised its position in Meridian Bancorp by 20.1% in the second quarter. Cannell Peter B & Co. Inc. now owns 1,078,890 shares of the company’s stock worth $15,946,000 after buying an additional 180,900 shares during the period. Chicago Equity Partners LLC purchased a new position in Meridian Bancorp during the second quarter worth $2,041,000. Vanguard Group Inc. raised its position in Meridian Bancorp by 7.4% in the second quarter. Vanguard Group Inc. now owns 1,889,411 shares of the company’s stock worth $27,925,000 after buying an additional 129,797 shares during the period. Finally, FMR LLC raised its position in Meridian Bancorp by 2.8% in the second quarter. FMR LLC now owns 4,737,098 shares of the company’s stock worth $70,015,000 after buying an additional 127,143 shares during the period. Hedge funds and other institutional investors own 66.10% of the company’s stock.
Shares of Meridian Bancorp (NASDAQ:EBSB) opened at 15.57 on Wednesday. The stock has a market cap of $794.47 million, a price-to-earnings ratio of 31.78 and a beta of 0.51. Meridian Bancorp has a one year low of $12.28 and a one year high of $15.77. The company has a 50 day moving average of $15.45 and a 200-day moving average of $14.84.
Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.03. Meridian Bancorp had a net margin of 17.96% and a return on equity of 4.44%. On average, analysts anticipate that Meridian Bancorp will post $0.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be given a $0.03 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.77%. Meridian Bancorp’s dividend payout ratio (DPR) is 24.49%.
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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