Vanguard Group Inc. boosted its stake in Meridian Bancorp Inc (NASDAQ:EBSB) by 1.3% in the third quarter, HoldingsChannel.com reports. The fund owned 2,353,828 shares of the savings and loans company’s stock after buying an additional 29,087 shares during the quarter. Vanguard Group Inc.’s holdings in Meridian Bancorp were worth $40,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caxton Associates LP purchased a new position in shares of Meridian Bancorp during the 3rd quarter valued at approximately $184,000. HRT Financial LLC acquired a new stake in shares of Meridian Bancorp during the 3rd quarter valued at approximately $188,000. Capital Fund Management S.A. acquired a new stake in shares of Meridian Bancorp during the 3rd quarter valued at approximately $197,000. Alps Advisors Inc. raised its position 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 acquiring an additional 5,145 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its position in shares of Meridian Bancorp by 54.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 36,090 shares of the savings and loans company’s stock valued at $614,000 after acquiring an additional 12,798 shares in the last quarter. Hedge funds and other institutional investors own 66.07% of the company’s stock.

In other Meridian Bancorp news, Director James G. Sartori sold 2,400 shares of the stock in a transaction 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 through this link. Also, EVP Edward J. Merritt sold 2,800 shares of the stock in a transaction on Monday, January 28th. The stock was sold at an average price of $15.80, for a total value of $44,240.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,300 shares of company stock worth $195,091. Corporate insiders own 5.30% of the company’s stock.

Shares of EBSB stock traded down $0.08 on Monday, hitting $15.69. 100 shares of the stock traded hands, compared to its average volume of 159,907. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.90. The firm has a market cap of $854.06 million, a P/E ratio of 14.87 and a beta of 0.50. Meridian Bancorp Inc has a 1-year low of $13.67 and a 1-year high of $20.95.

Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings results on Tuesday, January 22nd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.05). The firm had revenue of $42.31 million for the quarter, compared to analyst estimates of $45.20 million. Meridian Bancorp had a net margin of 23.56% and a return on equity of 8.37%. On average, research analysts forecast that Meridian Bancorp Inc will post 1.2 EPS for the current fiscal year.

Several equities research analysts recently issued reports on EBSB shares. Zacks Investment Research raised Meridian Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Friday, January 11th. BidaskClub lowered Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Finally, Hovde Group reissued a “hold” rating and set a $15.00 price target on shares of Meridian Bancorp in a research report on Monday, January 28th.

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

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