Meridian Bancorp, Inc. (EBSB) Position Decreased by First Trust Advisors LP
First Trust Advisors LP reduced its holdings in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 27.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 134,602 shares of the savings and loans company’s stock after selling 50,901 shares during the quarter. First Trust Advisors LP owned 0.26% of Meridian Bancorp worth $2,275,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Sei Investments Co. lifted its position in shares of Meridian Bancorp by 5.8% during the 1st quarter. Sei Investments Co. now owns 5,918 shares of the savings and loans company’s stock worth $108,000 after buying an additional 325 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Meridian Bancorp during the 1st quarter worth $200,000. Victory Capital Management Inc. bought a new stake in shares of Meridian Bancorp during the 1st quarter worth $227,000. KCG Holdings Inc. bought a new stake in shares of Meridian Bancorp during the 1st quarter worth $257,000. Finally, Globeflex Capital L P lifted its position in shares of Meridian Bancorp by 17,878.8% during the 1st quarter. Globeflex Capital L P now owns 17,799 shares of the savings and loans company’s stock worth $326,000 after buying an additional 17,700 shares during the last quarter. Institutional investors and hedge funds own 64.71% of the company’s stock.
In other Meridian Bancorp news, Director James G. Sartori sold 8,324 shares of Meridian Bancorp stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $17.46, for a total transaction of $145,337.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frank Romano purchased 3,785 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average cost of $17.69 per share, with a total value of $66,956.65. The disclosure for this purchase can be found here. Insiders own 5.10% of the company’s stock.
Meridian Bancorp, Inc. (NASDAQ:EBSB) opened at 17.60 on Friday. The company has a market capitalization of $897.65 million, a P/E ratio of 22.56 and a beta of 0.28. Meridian Bancorp, Inc. has a 52-week low of $15.06 and a 52-week high of $20.55. The firm has a 50-day moving average price of $17.39 and a 200 day moving average price of $17.53.
Meridian Bancorp (NASDAQ:EBSB) last issued its quarterly earnings results on Tuesday, July 25th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Meridian Bancorp had a return on equity of 6.77% and a net margin of 22.50%. The firm had revenue of $40.49 million during the quarter. On average, analysts predict that Meridian Bancorp, Inc. will post $0.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 19th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Monday, September 18th. Meridian Bancorp’s dividend payout ratio (DPR) is currently 20.00%.
Several brokerages recently weighed in on EBSB. Piper Jaffray Companies restated a “hold” rating on shares of Meridian Bancorp in a research report on Wednesday, July 26th. BidaskClub downgraded Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Compass Point upgraded Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Monday, June 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $19.00 price objective on shares of Meridian Bancorp in a research report on Thursday, August 31st.
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Meridian Bancorp Company Profile
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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