Meridian Bancorp Inc (EBSB) Holdings Lowered by MetLife Investment Advisors LLC

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MetLife Investment Advisors LLC lowered its position in shares of Meridian Bancorp Inc (NASDAQ:EBSB) by 35.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,292 shares of the savings and loans company’s stock after selling 12,798 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Meridian Bancorp were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of EBSB. Alliancebernstein L.P. raised its position in shares of Meridian Bancorp by 71.1% in the 3rd quarter. Alliancebernstein L.P. now owns 128,717 shares of the savings and loans company’s stock valued at $2,188,000 after purchasing an additional 53,507 shares in the last quarter. BlackRock Inc. raised its position in shares of Meridian Bancorp by 2.1% in the 3rd quarter. BlackRock Inc. now owns 3,753,382 shares of the savings and loans company’s stock valued at $63,807,000 after purchasing an additional 75,549 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Meridian Bancorp by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,763,245 shares of the savings and loans company’s stock valued at $46,975,000 after purchasing an additional 86,367 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Meridian Bancorp by 16.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 186,643 shares of the savings and loans company’s stock valued at $3,173,000 after purchasing an additional 25,761 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Meridian Bancorp by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,110,375 shares of the savings and loans company’s stock valued at $18,877,000 after purchasing an additional 39,338 shares in the last quarter. 64.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EBSB opened at $16.64 on Tuesday. Meridian Bancorp Inc has a 52-week low of $13.67 and a 52-week high of $20.45. The company has a market capitalization of $905.94 million, a price-to-earnings ratio of 15.70 and a beta of 0.50. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80.

Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings results on Tuesday, January 22nd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.05). The firm had revenue of $42.31 million for the quarter, compared to analyst estimates of $45.20 million. Meridian Bancorp had a net margin of 23.56% and a return on equity of 8.34%. Sell-side analysts expect that Meridian Bancorp Inc will post 1.2 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Tuesday, March 19th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Monday, March 18th. Meridian Bancorp’s dividend payout ratio is currently 26.42%.

EBSB has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Meridian Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, January 14th. BidaskClub lowered Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, March 22nd. Finally, Hovde Group reaffirmed a “hold” rating and issued a $15.00 target price on shares of Meridian Bancorp in a research report on Monday, January 28th.

In related news, Director Gregory F. Natalucci sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $15.76, for a total transaction of $110,320.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Edward J. Merritt sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $15.80, for a total value of $44,240.00. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

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Meridian Bancorp 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.

Further Reading: Book Value Per Share in Stock Trading

Institutional Ownership by Quarter for Meridian Bancorp (NASDAQ:EBSB)

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