Fmr LLC decreased its holdings in Meridian Bancorp, Inc. (NASDAQ:EBSB) by 21.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,535,160 shares of the savings and loans company’s stock after selling 944,340 shares during the period. Fmr LLC owned approximately 6.93% of Meridian Bancorp worth $59,744,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Meridian Bancorp by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,154,791 shares of the savings and loans company’s stock valued at $36,415,000 after acquiring an additional 58,380 shares during the last quarter. GSA Capital Partners LLP raised its holdings in Meridian Bancorp by 97.6% in the 2nd quarter. GSA Capital Partners LLP now owns 51,728 shares of the savings and loans company’s stock valued at $874,000 after acquiring an additional 25,544 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Meridian Bancorp by 13.6% in the 2nd quarter. New York State Common Retirement Fund now owns 64,249 shares of the savings and loans company’s stock valued at $1,086,000 after acquiring an additional 7,668 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in Meridian Bancorp by 0.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 186,424 shares of the savings and loans company’s stock valued at $3,151,000 after acquiring an additional 679 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in Meridian Bancorp by 1.5% in the 2nd quarter. Teachers Advisors LLC now owns 93,554 shares of the savings and loans company’s stock valued at $1,581,000 after acquiring an additional 1,374 shares during the last quarter. Institutional investors own 65.08% of the company’s stock.

In related news, Director James G. Sartori sold 8,324 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $17.46, for a total transaction of $145,337.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Frank Romano acquired 3,785 shares of Meridian Bancorp stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average cost of $17.69 per share, for a total transaction of $66,956.65. The disclosure for this purchase can be found here. Corporate insiders own 5.10% of the company’s stock.

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Shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) opened at 19.20 on Monday. Meridian Bancorp, Inc. has a one year low of $15.23 and a one year high of $20.55. The stock’s 50 day moving average is $18.35 and its 200-day moving average is $17.51. The firm has a market cap of $979.26 million, a P/E ratio of 24.62 and a beta of 0.26.

Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings data on Tuesday, July 25th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. The business had revenue of $40.49 million for the quarter. Meridian Bancorp had a net margin of 22.50% and a return on equity of 6.77%. Analysts anticipate that Meridian Bancorp, Inc. will post $0.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 19th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Monday, September 18th. Meridian Bancorp’s payout ratio is 20.00%.

A number of analysts have commented on the stock. Compass Point upgraded shares of Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Monday, June 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $19.00 price objective on shares of Meridian Bancorp in a report on Thursday, August 31st. Piper Jaffray Companies reiterated a “hold” rating on shares of Meridian Bancorp in a report on Wednesday, July 26th. Finally, BidaskClub downgraded shares of Meridian Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th.

Meridian Bancorp 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.

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

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