BidaskClub cut shares of Meridian Bancorp (NASDAQ:EBSB) from a hold rating to a sell rating in a report released on Friday morning.

Separately, Zacks Investment Research cut shares of Meridian Bancorp from a buy rating to a hold rating in a research report on Wednesday, October 3rd.

NASDAQ:EBSB opened at $15.48 on Friday. Meridian Bancorp has a one year low of $15.16 and a one year high of $21.85. The firm has a market capitalization of $834.57 million, a price-to-earnings ratio of 16.29 and a beta of 0.21. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.24 and a current ratio of 1.24.

Meridian Bancorp (NASDAQ:EBSB) last released its quarterly earnings data on Tuesday, October 23rd. The savings and loans company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.05. Meridian Bancorp had a net margin of 22.37% and a return on equity of 8.99%. The firm had revenue of $45.04 million for the quarter, compared to the consensus estimate of $45.10 million. On average, analysts predict that Meridian Bancorp will post 1.12 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders 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 dividend yield of 1.81%. The ex-dividend date of this dividend is Monday, December 17th. This is a boost from Meridian Bancorp’s previous quarterly dividend of $0.05. Meridian Bancorp’s payout ratio is presently 21.05%.

In other news, Director James G. Sartori sold 2,400 shares of the business’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $16.25, for a total value of $39,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of Meridian Bancorp by 15.9% in the second quarter. Victory Capital Management Inc. now owns 22,402 shares of the savings and loans company’s stock valued at $429,000 after acquiring an additional 3,074 shares during the period. Teachers Advisors LLC boosted its position in shares of Meridian Bancorp by 3.7% in the third quarter. Teachers Advisors LLC now owns 101,314 shares of the savings and loans company’s stock valued at $1,722,000 after acquiring an additional 3,653 shares during the period. Strs Ohio boosted its position in shares of Meridian Bancorp by 8.9% in the second quarter. Strs Ohio now owns 47,500 shares of the savings and loans company’s stock valued at $909,000 after acquiring an additional 3,900 shares during the period. Hennessy Advisors Inc. boosted its position in shares of Meridian Bancorp by 1.1% in the third quarter. Hennessy Advisors Inc. now owns 450,000 shares of the savings and loans company’s stock valued at $7,650,000 after acquiring an additional 5,000 shares during the period. Finally, Alps Advisors Inc. boosted its position in shares of Meridian Bancorp by 22.7% in the third quarter. Alps Advisors Inc. now owns 27,819 shares of the savings and loans company’s stock valued at $473,000 after acquiring an additional 5,145 shares during the period. 66.17% of the stock is owned by institutional investors.

Meridian Bancorp Company Profile

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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