Meridian Bancorp (EBSB) Lifted to Buy at BidaskClub
BidaskClub upgraded shares of Meridian Bancorp (NASDAQ:EBSB) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.
Separately, Keefe, Bruyette & Woods restated a hold rating and set a $24.50 target price on shares of Meridian Bancorp in a report on Friday, December 22nd.
Meridian Bancorp (NASDAQ EBSB) opened at $20.60 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.74. Meridian Bancorp has a 1-year low of $15.85 and a 1-year high of $21.30. The stock has a market capitalization of $1,111.79, a PE ratio of 23.68 and a beta of 0.27.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 19th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.97%. This is a boost from Meridian Bancorp’s previous quarterly dividend of $0.04. Meridian Bancorp’s dividend payout ratio (DPR) is 22.99%.
In other news, Director Anna R. Dimaria sold 14,690 shares of Meridian Bancorp stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $20.16, for a total transaction of $296,150.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard F. Fernandez sold 14,801 shares of Meridian Bancorp stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $19.75, for a total value of $292,319.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,420 shares of company stock worth $826,454. Company insiders own 5.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Meridian Bancorp by 2,313.8% during 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 purchasing an additional 5,692 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Meridian Bancorp during the 2nd quarter valued at about $126,000. Banc Funds Co. LLC bought a new position in shares of Meridian Bancorp during the 2nd quarter valued at about $169,000. Wolverine Trading LLC bought a new position in shares of Meridian Bancorp during the 2nd quarter valued at about $173,000. Finally, Simplex Trading LLC lifted its holdings in shares of Meridian Bancorp by 108.6% during the 3rd quarter. Simplex Trading LLC now owns 10,298 shares of the savings and loans company’s stock valued at $192,000 after purchasing an additional 5,362 shares in the last quarter. Institutional investors and hedge funds own 66.13% of the company’s stock.
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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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