Meridian Bancorp, Inc. (EBSB) Given $20.00 Average Price Target by Brokerages
Meridian Bancorp, Inc. (NASDAQ:EBSB) has been given an average broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation.
Analysts have set a 12-month consensus target price of $20.00 for the company and are anticipating that the company will post $0.24 earnings per share for the current quarter, according to Zacks. Zacks has also given Meridian Bancorp an industry rank of 98 out of 265 based on the ratings given to related companies.
Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $19.00 price target on shares of Meridian Bancorp in a research note on Thursday, August 31st. Piper Jaffray Companies restated a “hold” rating on shares of Meridian Bancorp in a research report on Wednesday, July 26th. Finally, BidaskClub downgraded shares of Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th.
Shares of Meridian Bancorp (NASDAQ:EBSB) traded up $0.30 on Tuesday, hitting $19.40. 137,100 shares of the company traded hands, compared to its average volume of 158,210. The company has a market capitalization of $1,030.83, a P/E ratio of 21.95 and a beta of 0.28. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. Meridian Bancorp has a 12 month low of $15.85 and a 12 month high of $20.55.
Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its position in Meridian Bancorp by 2,313.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,938 shares of the savings and loans company’s stock valued at $100,000 after buying an additional 5,692 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Meridian Bancorp in the 2nd quarter worth approximately $126,000. Banc Funds Co. LLC purchased a new stake in shares of Meridian Bancorp in the 2nd quarter worth approximately $169,000. Wolverine Trading LLC purchased a new stake in shares of Meridian Bancorp in the 2nd quarter worth approximately $173,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Meridian Bancorp in the 2nd quarter worth approximately $178,000. 64.91% of the stock is owned by institutional investors.
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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