Renaissance Technologies LLC decreased its position in Meridian Bancorp Inc (NASDAQ:EBSB) by 1.4% during the second quarter, HoldingsChannel.com reports. The fund owned 2,024,444 shares of the savings and loans company’s stock after selling 29,014 shares during the quarter. Renaissance Technologies LLC’s holdings in Meridian Bancorp were worth $36,217,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Meridian Bancorp in the 1st quarter worth approximately $156,000. Aperio Group LLC bought a new stake in Meridian Bancorp in the 2nd quarter worth approximately $178,000. BNP Paribas Arbitrage SA increased its stake in Meridian Bancorp by 508.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,008 shares of the savings and loans company’s stock worth $157,000 after acquiring an additional 8,362 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in Meridian Bancorp in the 2nd quarter worth approximately $213,000. Finally, State Board of Administration of Florida Retirement System increased its stake in Meridian Bancorp by 34.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 15,000 shares of the savings and loans company’s stock worth $268,000 after acquiring an additional 3,805 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have issued reports on EBSB. BidaskClub raised Meridian Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Piper Jaffray Companies raised Meridian Bancorp from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $18.50 to $20.00 in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded Meridian Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $18.67.

Shares of NASDAQ EBSB traded up $0.16 during trading hours on Friday, hitting $18.77. 1,446 shares of the company traded hands, compared to its average volume of 75,343. The stock has a market capitalization of $965.14 million, a price-to-earnings ratio of 17.71 and a beta of 0.55. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.86. The company’s 50 day moving average price is $17.80 and its 200 day moving average price is $17.23. Meridian Bancorp Inc has a 12 month low of $13.67 and a 12 month high of $19.32.

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

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