Credit Suisse AG Lowers Position in Meridian Bancorp, Inc. (EBSB)
Credit Suisse AG reduced its stake in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 44.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 34,757 shares of the savings and loans company’s stock after selling 27,383 shares during the period. Credit Suisse AG owned about 0.07% of Meridian Bancorp worth $636,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in EBSB. Sei Investments Co. raised its position in Meridian Bancorp by 5.8% in the first quarter. Sei Investments Co. now owns 5,918 shares of the savings and loans company’s stock valued at $108,000 after buying an additional 325 shares during the period. California Public Employees Retirement System raised its position in Meridian Bancorp by 2.5% in the first quarter. California Public Employees Retirement System now owns 53,127 shares of the savings and loans company’s stock valued at $972,000 after buying an additional 1,300 shares during the period. Tudor Investment Corp ET AL raised its position in Meridian Bancorp by 6.5% in the first quarter. Tudor Investment Corp ET AL now owns 30,101 shares of the savings and loans company’s stock valued at $551,000 after buying an additional 1,825 shares during the period. American International Group Inc. raised its position in Meridian Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 29,674 shares of the savings and loans company’s stock valued at $543,000 after buying an additional 1,929 shares during the period. Finally, Teachers Advisors LLC raised its position in Meridian Bancorp by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 89,581 shares of the savings and loans company’s stock valued at $1,693,000 after buying an additional 1,956 shares during the period. Hedge funds and other institutional investors own 64.67% of the company’s stock.
Meridian Bancorp, Inc. (NASDAQ:EBSB) traded down 0.718% on Tuesday, hitting $17.275. The company’s stock had a trading volume of 17,341 shares. Meridian Bancorp, Inc. has a 12 month low of $15.06 and a 12 month high of $20.55. The firm has a 50 day moving average of $17.18 and a 200-day moving average of $17.64. The stock has a market cap of $881.08 million, a PE ratio of 22.147 and a beta of 0.26.
Meridian Bancorp (NASDAQ:EBSB) last released its quarterly earnings data on Tuesday, July 25th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. The business had revenue of $40.49 million for the quarter. Meridian Bancorp had a return on equity of 6.77% and a net margin of 22.50%. On average, analysts expect that Meridian Bancorp, Inc. will post $0.82 earnings per share for the current fiscal year.
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Several research firms have weighed in on EBSB. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Meridian Bancorp in a research report on Wednesday, July 26th. BidaskClub lowered Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Compass Point raised Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Monday, June 26th.
In other news, Director James G. Sartori sold 8,324 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $17.46, for a total transaction of $145,337.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Frank Romano purchased 3,785 shares of the stock in a transaction dated Thursday, August 3rd. The shares were purchased at an average cost of $17.69 per share, for a total transaction of $66,956.65. The disclosure for this purchase can be found here. Corporate insiders own 5.10% of the company’s stock.
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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