Meridian Bancorp Inc (NASDAQ:EBSB) reached a new 52-week low during trading on Thursday . The stock traded as low as $15.16 and last traded at $15.39, with a volume of 6814 shares. The stock had previously closed at $15.38.

EBSB has been the topic of several research reports. Zacks Investment Research raised shares of Meridian Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Wednesday, October 31st. BidaskClub raised shares of Meridian Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 11th.

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 capitalization of $832.94 million, a PE ratio of 16.22 and a beta of 0.21.

Meridian Bancorp (NASDAQ:EBSB) last issued its earnings results on Tuesday, October 23rd. The savings and loans company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $45.04 million during the quarter, compared to analysts’ expectations of $45.10 million. Meridian Bancorp had a net margin of 22.37% and a return on equity of 8.99%. Analysts predict that Meridian Bancorp Inc will post 1.12 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Tuesday, December 18th will be issued a $0.07 dividend. 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. This represents a $0.28 annualized dividend and a yield of 1.82%. Meridian Bancorp’s payout ratio is 21.05%.

In other Meridian Bancorp news, Director James G. Sartori sold 2,400 shares of Meridian Bancorp 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 can be accessed through the SEC website. 5.30% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in 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 worth $429,000 after buying an additional 3,074 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of Meridian Bancorp by 3.7% during 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 purchasing an additional 3,653 shares during the last quarter. Strs Ohio raised its holdings in shares of Meridian Bancorp by 8.9% during the second quarter. Strs Ohio now owns 47,500 shares of the savings and loans company’s stock valued at $909,000 after purchasing an additional 3,900 shares during the last quarter. Hennessy Advisors Inc. raised its holdings in shares of Meridian Bancorp by 1.1% during 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 purchasing an additional 5,000 shares during the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of Meridian Bancorp by 22.7% during the third quarter. Alps Advisors Inc. now owns 27,819 shares of the savings and loans company’s stock valued at $473,000 after purchasing an additional 5,145 shares during the last quarter. 66.17% of the stock is owned by institutional investors and hedge funds.

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About Meridian Bancorp (NASDAQ:EBSB)

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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