Zacks: Brokerages Anticipate Meridian Bancorp, Inc. (EBSB) Will Announce Earnings of $0.22 Per Share
Analysts expect that Meridian Bancorp, Inc. (NASDAQ:EBSB) will post earnings per share of $0.22 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Meridian Bancorp’s earnings. Meridian Bancorp also posted earnings of $0.22 per share in the same quarter last year. The company is expected to announce its next earnings report on Tuesday, January 23rd.
According to Zacks, analysts expect that Meridian Bancorp will report full year earnings of $0.81 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the company will post earnings of $0.94 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Meridian Bancorp.
A number of analysts recently commented on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $19.00 price objective on shares of Meridian Bancorp in a report on Thursday, August 31st. BidaskClub downgraded shares of Meridian Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Piper Jaffray Companies reissued a “hold” rating on shares of Meridian Bancorp in a report on Wednesday, July 26th.
Meridian Bancorp (NASDAQ EBSB) opened at 19.70 on Wednesday. Meridian Bancorp has a 52 week low of $15.62 and a 52 week high of $20.55. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 25.26 and a beta of 0.26. The company has a 50-day moving average of $18.93 and a 200-day moving average of $17.63.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 19th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Monday, September 18th. Meridian Bancorp’s payout ratio is 18.39%.
In other Meridian Bancorp news, EVP Frank Romano acquired 3,785 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was bought at an average price of $17.69 per share, with a total value of $66,956.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James G. Sartori sold 1,500 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $17.36, for a total transaction of $26,040.00. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Meridian Bancorp by 12.3% in the first quarter. Wells Fargo & Company MN now owns 47,482 shares of the savings and loans company’s stock valued at $869,000 after purchasing an additional 5,200 shares during the period. Bank of New York Mellon Corp boosted its stake in Meridian Bancorp by 6.4% during the 1st quarter. Bank of New York Mellon Corp now owns 262,469 shares of the savings and loans company’s stock valued at $4,803,000 after acquiring an additional 15,729 shares during the last quarter. American International Group Inc. boosted its stake in Meridian Bancorp by 7.0% during the 1st quarter. American International Group Inc. now owns 29,674 shares of the savings and loans company’s stock valued at $543,000 after acquiring an additional 1,929 shares during the last quarter. Teachers Advisors LLC boosted its stake in Meridian Bancorp by 2.9% during the 1st quarter. Teachers Advisors LLC now owns 92,180 shares of the savings and loans company’s stock valued at $1,687,000 after acquiring an additional 2,599 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Meridian Bancorp by 5.9% during the 1st quarter. TIAA CREF Investment Management LLC now owns 185,745 shares of the savings and loans company’s stock valued at $3,399,000 after acquiring an additional 10,306 shares during the last quarter. 64.79% of the stock is owned by institutional investors.
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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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