Zacks: Meridian Bancorp, Inc. (EBSB) Receives Average Rating of “Buy” from Analysts
Shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) have been given a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Brokers have set a twelve-month consensus target price of $21.50 for the company and are predicting that the company will post $0.25 EPS for the current quarter, according to Zacks. Zacks has also assigned Meridian Bancorp an industry rank of 74 out of 265 based on the ratings given to its competitors.
Several equities research analysts have commented on EBSB shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $24.50 price objective on shares of Meridian Bancorp in a research note on Friday, December 22nd. BidaskClub upgraded shares of Meridian Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, December 30th.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Meridian Bancorp by 6.5% during the 4th quarter. BlackRock Inc. now owns 3,109,062 shares of the savings and loans company’s stock valued at $64,048,000 after acquiring an additional 190,670 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Meridian Bancorp by 6.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,463,379 shares of the savings and loans company’s stock valued at $45,943,000 after acquiring an additional 159,475 shares during the period. Renaissance Technologies LLC grew its position in shares of Meridian Bancorp by 6.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,892,558 shares of the savings and loans company’s stock valued at $38,987,000 after acquiring an additional 119,300 shares during the period. State Street Corp grew its position in shares of Meridian Bancorp by 3.8% during the 2nd quarter. State Street Corp now owns 1,113,653 shares of the savings and loans company’s stock valued at $18,822,000 after acquiring an additional 40,376 shares during the period. Finally, Thrivent Financial For Lutherans grew its position in shares of Meridian Bancorp by 307.1% during the 4th quarter. Thrivent Financial For Lutherans now owns 741,969 shares of the savings and loans company’s stock valued at $15,285,000 after acquiring an additional 559,709 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Meridian Bancorp stock opened at $20.35 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.23 and a quick ratio of 1.23. Meridian Bancorp has a fifty-two week low of $15.85 and a fifty-two week high of $21.85. The firm has a market cap of $1,105.53, a PE ratio of 24.82 and a beta of 0.25.
Meridian Bancorp (NASDAQ:EBSB) last posted its earnings results on Tuesday, January 23rd. The savings and loans company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.06. The company had revenue of $48.04 million for the quarter. Meridian Bancorp had a net margin of 20.63% and a return on equity of 7.90%. analysts expect that Meridian Bancorp will post 1.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Tuesday, March 20th will be paid a $0.05 dividend. The ex-dividend date is Monday, March 19th. This represents a $0.20 annualized dividend and a yield of 0.98%. Meridian Bancorp’s dividend payout ratio (DPR) is 24.39%.
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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