Kessler Investment Group LLC lowered its stake in shares of Meridian Bancorp Inc (NASDAQ:EBSB) by 12.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,581 shares of the savings and loans company’s stock after selling 1,400 shares during the quarter. Kessler Investment Group LLC’s holdings in Meridian Bancorp were worth $137,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in EBSB. Schwab Charles Investment Management Inc. raised its stake in Meridian Bancorp by 5.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 281,955 shares of the savings and loans company’s stock valued at $5,400,000 after acquiring an additional 14,431 shares in the last quarter. BlackRock Inc. raised its stake in shares of Meridian Bancorp by 8.8% in the 2nd quarter. BlackRock Inc. now owns 3,677,833 shares of the savings and loans company’s stock worth $70,430,000 after buying an additional 298,381 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Meridian Bancorp by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,676,878 shares of the savings and loans company’s stock worth $51,263,000 after buying an additional 145,466 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Meridian Bancorp by 345.3% in the 2nd quarter. Citadel Advisors LLC now owns 56,524 shares of the savings and loans company’s stock worth $1,082,000 after buying an additional 43,831 shares in the last quarter. Finally, BlueMountain Capital Management LLC raised its stake in shares of Meridian Bancorp by 31.5% in the 2nd quarter. BlueMountain Capital Management LLC now owns 35,889 shares of the savings and loans company’s stock worth $687,000 after buying an additional 8,600 shares in the last quarter. Institutional investors and hedge funds own 66.17% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research raised 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 Meridian Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 30th.
Shares of EBSB traded down $0.12 during midday trading on Friday, reaching $14.98. The stock had a trading volume of 1,302 shares, compared to its average volume of 138,386. Meridian Bancorp Inc has a 52 week low of $13.67 and a 52 week high of $21.85. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $819.40 million, a PE ratio of 15.77 and a beta of 0.39.
Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings data on Tuesday, October 23rd. The savings and loans company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.05. The company had revenue of $45.04 million for the quarter, compared to the consensus estimate of $45.10 million. Meridian Bancorp had a return on equity of 8.99% and a net margin of 22.37%. On average, equities research analysts forecast that Meridian Bancorp Inc will post 1.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Tuesday, December 18th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, December 17th. This is a positive change from Meridian Bancorp’s previous quarterly dividend of $0.05. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.87%. Meridian Bancorp’s payout ratio is 29.47%.
In other news, Director James G. Sartori sold 2,400 shares of the business’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $16.25, for a total transaction of $39,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 3,700 shares of company stock worth $59,551 over the last ninety days. 5.30% of the stock is owned by insiders.
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 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.
Further Reading: Return on Investment (ROI) Defined, Explained
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