Meridian Bancorp Inc (EBSB) to Issue Quarterly Dividend of $0.05 on October 2nd

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Meridian Bancorp Inc (NASDAQ:EBSB) declared a quarterly dividend on Thursday, August 30th, Wall Street Journal reports. Stockholders of record on Tuesday, September 18th will be given a dividend of 0.05 per share by the savings and loans company on Tuesday, October 2nd. This represents a $0.20 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Monday, September 17th.

Meridian Bancorp has a payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Meridian Bancorp to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 16.0%.

Meridian Bancorp stock opened at $17.60 on Friday. The stock has a market cap of $957.25 million, a PE ratio of 18.53 and a beta of 0.15. Meridian Bancorp has a 1 year low of $15.61 and a 1 year high of $21.85. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.24 and a quick ratio of 1.24.

Meridian Bancorp (NASDAQ:EBSB) last posted its earnings results on Thursday, July 26th. The savings and loans company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company had revenue of $43.91 million during the quarter, compared to analyst estimates of $43.80 million. Meridian Bancorp had a return on equity of 8.50% and a net margin of 21.43%. equities analysts forecast that Meridian Bancorp will post 1.06 EPS for the current year.

Several equities analysts have recently issued reports on EBSB shares. Zacks Investment Research upgraded Meridian Bancorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 7th. BidaskClub lowered Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Finally, ValuEngine lowered Meridian Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd.

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 Essex, Middlesex, Norfolk, and Suffolk 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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Dividend History for Meridian Bancorp (NASDAQ:EBSB)

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