Renaissance Technologies LLC decreased its position in Meridian Bancorp Inc (NASDAQ:EBSB) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,024,444 shares of the savings and loans company’s stock after selling 29,014 shares during the quarter. Renaissance Technologies LLC owned approximately 3.78% of Meridian Bancorp worth $36,217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Meridian Bancorp during the first quarter valued at $156,000. Aperio Group LLC bought a new position in shares of Meridian Bancorp during the second quarter valued at $178,000. BNP Paribas Arbitrage SA increased its holdings in shares of Meridian Bancorp by 508.0% during the first quarter. BNP Paribas Arbitrage SA now owns 10,008 shares of the savings and loans company’s stock valued at $157,000 after acquiring an additional 8,362 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Meridian Bancorp during the second quarter valued at $213,000. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Meridian Bancorp by 34.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 15,000 shares of the savings and loans company’s stock valued at $268,000 after acquiring an additional 3,805 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

EBSB has been the subject of several analyst reports. Piper Jaffray Companies upgraded Meridian Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the company from $18.50 to $20.00 in a report on Tuesday, July 2nd. Zacks Investment Research downgraded Meridian Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Finally, BidaskClub upgraded Meridian Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $18.67.

NASDAQ EBSB traded up $0.16 during trading hours on Friday, hitting $18.77. The company’s stock had a trading volume of 1,446 shares, compared to its average volume of 75,343. Meridian Bancorp Inc has a 12 month low of $13.67 and a 12 month high of $19.32. The company’s 50 day simple moving average is $17.80 and its two-hundred day simple moving average is $17.23. The company has a market cap of $965.14 million, a P/E ratio of 17.71 and a beta of 0.55. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.21 and a quick ratio of 1.21.

Meridian Bancorp (NASDAQ:EBSB) last released its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $45.42 million during the quarter, compared to the consensus estimate of $47.10 million. Meridian Bancorp had a return on equity of 8.77% and a net margin of 22.96%.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a $0.07 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.28 annualized dividend and a yield of 1.49%. Meridian Bancorp’s payout ratio is 26.42%.

Meridian Bancorp 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 Suffolk, Norfolk, Middlesex and Essex 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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