Capital Fund Management S.A. acquired a new stake in shares of Meridian Bancorp Inc (NASDAQ:EBSB) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 11,600 shares of the savings and loans company’s stock, valued at approximately $197,000.

Other large investors have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new position in shares of Meridian Bancorp during the 2nd quarter valued at about $111,000. Bank of Montreal Can bought a new position in shares of Meridian Bancorp during the 2nd quarter valued at about $311,000. Acadian Asset Management LLC bought a new position in shares of Meridian Bancorp during the 2nd quarter valued at about $356,000. Victory Capital Management Inc. lifted its holdings in shares of Meridian Bancorp by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 22,402 shares of the savings and loans company’s stock valued at $429,000 after purchasing an additional 3,074 shares in the last quarter. Finally, Alps Advisors Inc. lifted its holdings in shares of Meridian Bancorp by 22.7% during the 3rd quarter. Alps Advisors Inc. now owns 27,819 shares of the savings and loans company’s stock valued at $473,000 after purchasing an additional 5,145 shares in the last quarter. Institutional investors and hedge funds own 66.17% of the company’s stock.

In related news, Director James G. Sartori sold 2,400 shares of Meridian Bancorp stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $16.25, for a total value of $39,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 5.30% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on the company. BidaskClub cut Meridian Bancorp from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded Meridian Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Wednesday, October 31st.

Shares of Meridian Bancorp stock opened at $15.48 on Friday. Meridian Bancorp Inc has a 52-week low of $15.16 and a 52-week high of $21.85. The company has a market capitalization of $834.57 million, a P/E ratio of 13.64 and a beta of 0.21. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.90.

Meridian Bancorp (NASDAQ:EBSB) last announced its earnings results on Tuesday, October 23rd. The savings and loans company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.05. Meridian Bancorp had a return on equity of 8.99% and a net margin of 22.37%. The business had revenue of $45.04 million for the quarter, compared to analyst estimates of $45.10 million. Research analysts forecast that Meridian Bancorp Inc will post 1.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Tuesday, December 18th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Monday, December 17th. This is a positive change from Meridian Bancorp’s previous quarterly dividend of $0.05. Meridian Bancorp’s dividend payout ratio (DPR) is currently 21.05%.

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About Meridian Bancorp

Meridian Bancorp, Inc operates as the holding company for East Boston Savings Bank that provides various financial products and services for individuals and businesses primarily in Essex, Middlesex, Norfolk, and Suffolk Counties, Massachusetts. The company accepts various deposit products, including non-interest-bearing demand deposits, such as checking accounts; interest-bearing demand accounts comprising NOW and money market accounts; savings accounts; and certificates of deposits, as well as commercial checking accounts.

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

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