Advisor Group Holdings Inc. Sells 680 Shares of Meridian Bancorp, Inc. (NASDAQ:EBSB)

Advisor Group Holdings Inc. reduced its holdings in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,928 shares of the savings and loans company’s stock after selling 680 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Meridian Bancorp were worth $510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Meridian Bancorp by 10.7% during the first quarter. BlackRock Inc. now owns 4,317,811 shares of the savings and loans company’s stock valued at $79,533,000 after purchasing an additional 417,207 shares in the last quarter. Versor Investments LP bought a new position in shares of Meridian Bancorp during the second quarter valued at $55,384,000. Alliancebernstein L.P. lifted its holdings in shares of Meridian Bancorp by 42.6% during the second quarter. Alliancebernstein L.P. now owns 1,059,353 shares of the savings and loans company’s stock valued at $21,674,000 after purchasing an additional 316,528 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Meridian Bancorp by 1.8% during the first quarter. GW&K Investment Management LLC now owns 998,422 shares of the savings and loans company’s stock valued at $18,391,000 after purchasing an additional 18,050 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Meridian Bancorp by 9.1% during the first quarter. Geode Capital Management LLC now owns 856,688 shares of the savings and loans company’s stock valued at $15,780,000 after acquiring an additional 71,685 shares during the last quarter. 69.86% of the stock is currently owned by hedge funds and other institutional investors.

Meridian Bancorp stock opened at $19.07 on Wednesday. The stock has a market cap of $1.00 billion, a PE ratio of 12.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.23 and a current ratio of 1.23. Meridian Bancorp, Inc. has a one year low of $9.75 and a one year high of $22.97. The stock has a fifty day moving average of $19.87 and a 200 day moving average of $20.13.

Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings data on Wednesday, July 21st. The savings and loans company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $50.82 million for the quarter, compared to analysts’ expectations of $52.10 million. Meridian Bancorp had a net margin of 29.73% and a return on equity of 9.74%. As a group, sell-side analysts predict that Meridian Bancorp, Inc. will post 1.5 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 5th. Shareholders of record on Tuesday, September 21st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Monday, September 20th. Meridian Bancorp’s payout ratio is 31.01%.

Separately, Zacks Investment Research upgraded Meridian Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 10th.

Meridian Bancorp Company Profile

Meridian Bancorp, Inc operates as a holding company, which engages in the provision of banking and financial services, through East Boston Savings Bank. It offers banking products such as mobile banking; retirement services; investments; savings and certificates of deposits; personal lending; auto loan; line of credit, and cash management.

See Also: Trade War

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

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