Meridian Bancorp, Inc. (EBSB) Rating Reiterated by Keefe, Bruyette & Woods
Meridian Bancorp, Inc. (NASDAQ:EBSB)‘s stock had its “hold” rating reissued by analysts at Keefe, Bruyette & Woods in a report issued on Thursday. They currently have a $19.00 price objective on the savings and loans company’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 6.44% from the stock’s previous close.
Several other research firms have also issued reports on EBSB. Compass Point raised shares of Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a report on Monday, June 26th. Piper Jaffray Companies reissued a “hold” rating on shares of Meridian Bancorp in a report on Wednesday, July 26th. Finally, BidaskClub lowered shares of Meridian Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th.
Meridian Bancorp (NASDAQ:EBSB) opened at 17.85 on Thursday. Meridian Bancorp has a 1-year low of $15.06 and a 1-year high of $20.55. The stock has a 50 day moving average of $17.28 and a 200 day moving average of $17.58. The stock has a market cap of $910.40 million, a P/E ratio of 22.88 and a beta of 0.28.
Meridian Bancorp (NASDAQ:EBSB) last issued its quarterly earnings data on Tuesday, July 25th. The savings and loans company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Meridian Bancorp had a net margin of 22.50% and a return on equity of 6.77%. The firm had revenue of $40.49 million for the quarter. Equities analysts anticipate that Meridian Bancorp will post $0.82 EPS for the current fiscal year.
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In other Meridian Bancorp news, Director James G. Sartori sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $17.36, for a total transaction of $26,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Frank Romano acquired 3,785 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $17.69 per share, with a total value of $66,956.65. The disclosure for this purchase can be found here. Company insiders own 5.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Stevens Capital Management LP bought a new stake in shares of Meridian Bancorp during the first quarter worth about $200,000. Goldman Sachs Group Inc. raised its position in Meridian Bancorp by 189.9% in the first quarter. Goldman Sachs Group Inc. now owns 239,935 shares of the savings and loans company’s stock worth $4,391,000 after buying an additional 157,172 shares during the period. 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 worth $108,000 after buying an additional 325 shares during the period. TIAA CREF Investment Management LLC raised its position in Meridian Bancorp by 5.9% in the first quarter. TIAA CREF Investment Management LLC now owns 185,745 shares of the savings and loans company’s stock worth $3,399,000 after buying an additional 10,306 shares during the period. Finally, Vanguard Group Inc. raised its position in Meridian Bancorp by 7.2% in the first quarter. Vanguard Group Inc. now owns 2,096,411 shares of the savings and loans company’s stock worth $38,364,000 after buying an additional 141,534 shares during the period. 64.67% of the stock is owned by institutional investors and hedge funds.
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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