Macquarie Group Ltd. Acquires New Stake in Meridian Bancorp, Inc. (EBSB)
Macquarie Group Ltd. acquired a new stake in Meridian Bancorp, Inc. (NASDAQ:EBSB) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 25,966 shares of the savings and loans company’s stock, valued at approximately $484,000.
Several other large investors have also recently made changes to their positions in EBSB. ClariVest Asset Management LLC purchased a new position in shares of Meridian Bancorp in the 3rd quarter valued at $740,000. SG Americas Securities LLC purchased a new position in shares of Meridian Bancorp in the 3rd quarter valued at $237,000. Russell Investments Group Ltd. grew its position in shares of Meridian Bancorp by 6.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 484,592 shares of the savings and loans company’s stock valued at $9,037,000 after buying an additional 31,400 shares during the last quarter. Anchor Capital Advisors LLC grew its position in shares of Meridian Bancorp by 160.2% in the 3rd quarter. Anchor Capital Advisors LLC now owns 116,616 shares of the savings and loans company’s stock valued at $2,175,000 after buying an additional 71,795 shares during the last quarter. Finally, Boston Partners grew its position in shares of Meridian Bancorp by 6.9% in the 3rd quarter. Boston Partners now owns 785,050 shares of the savings and loans company’s stock valued at $14,641,000 after buying an additional 50,730 shares during the last quarter. 66.13% of the stock is currently owned by institutional investors.
A number of research analysts recently commented on the stock. BidaskClub downgraded shares of Meridian Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.00 target price on shares of Meridian Bancorp in a research report on Thursday, August 31st.
Meridian Bancorp, Inc. (NASDAQ:EBSB) opened at $19.90 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $1,071.31, a price-to-earnings ratio of 22.82 and a beta of 0.27. Meridian Bancorp, Inc. has a 52-week low of $15.85 and a 52-week high of $20.73.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Tuesday, December 19th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.01%. This is an increase from Meridian Bancorp’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Monday, December 18th. Meridian Bancorp’s dividend payout ratio (DPR) is 18.39%.
In related news, Director Marilyn A. Censullo sold 11,929 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $19.95, for a total transaction of $237,983.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anna R. Dimaria sold 14,690 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $20.16, for a total transaction of $296,150.40. The disclosure for this sale can be found here. Insiders sold a total of 41,420 shares of company stock worth $826,454 over the last ninety days. Insiders own 5.10% of the company’s stock.
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About Meridian Bancorp
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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