Kessler Investment Group LLC lowered its position in Meridian Bancorp Inc (NASDAQ:EBSB) by 12.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Teachers Advisors LLC grew its stake in Meridian Bancorp by 3.7% in the third quarter. Teachers Advisors LLC now owns 101,314 shares of the savings and loans company’s stock valued at $1,722,000 after purchasing an additional 3,653 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in shares of Meridian Bancorp by 1.1% during the 3rd quarter. Hennessy Advisors Inc. now owns 450,000 shares of the savings and loans company’s stock worth $7,650,000 after acquiring an additional 5,000 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of Meridian Bancorp by 22.7% during the 3rd quarter. Alps Advisors Inc. now owns 27,819 shares of the savings and loans company’s stock worth $473,000 after acquiring an additional 5,145 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Meridian Bancorp during the 2nd quarter worth about $111,000. Finally, BlueMountain Capital Management LLC boosted its stake in shares of Meridian Bancorp by 31.5% during the 2nd quarter. BlueMountain Capital Management LLC now owns 35,889 shares of the savings and loans company’s stock worth $687,000 after acquiring an additional 8,600 shares in the last quarter. Hedge funds and other institutional investors own 66.17% of the company’s stock.
In related news, Director James G. Sartori sold 2,400 shares of the business’s stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $16.25, for a total transaction of $39,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 3,700 shares of company stock valued at $59,551 in the last three months. 5.30% of the stock is owned by insiders.
Shares of NASDAQ EBSB traded down $0.12 during trading hours on Friday, hitting $14.98. 1,302 shares of the company’s stock were exchanged, compared to its average volume of 138,386. Meridian Bancorp Inc has a 1-year low of $13.67 and a 1-year 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 stock 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 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. Meridian Bancorp had a return on equity of 8.99% and a net margin of 22.37%. The business had revenue of $45.04 million during the quarter, compared to analysts’ expectations of $45.10 million. As a group, equities research analysts forecast that Meridian Bancorp Inc will post 1.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Tuesday, December 18th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, December 17th. This is a boost from Meridian Bancorp’s previous quarterly dividend of $0.05. Meridian Bancorp’s payout ratio is currently 29.47%.
Several analysts have recently issued reports on EBSB shares. Zacks Investment Research downgraded Meridian Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. BidaskClub upgraded Meridian Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 11th.
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.
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