Meridian Bancorp (NASDAQ:EBSB) Upgraded at BidaskClub

Meridian Bancorp (NASDAQ:EBSB) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday, March 28th, BidAskClub reports.

EBSB has been the topic of a number of other reports. Zacks Investment Research lowered shares of Meridian Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Hovde Group reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Meridian Bancorp in a research note on Monday, January 28th.

NASDAQ:EBSB traded down $0.26 during trading hours on Thursday, reaching $16.53. The company had a trading volume of 104,077 shares, compared to its average volume of 150,114. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $885.07 million, a price-to-earnings ratio of 15.59 and a beta of 0.50. Meridian Bancorp has a twelve month low of $13.67 and a twelve month high of $20.45.

Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings results on Tuesday, January 22nd. The savings and loans company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). Meridian Bancorp had a return on equity of 8.34% and a net margin of 23.56%. The company had revenue of $42.31 million during the quarter, compared to analyst estimates of $45.20 million. Equities analysts predict that Meridian Bancorp will post 1.2 earnings per share for the current fiscal year.

In other Meridian Bancorp news, Director Gregory F. Natalucci sold 7,000 shares of Meridian Bancorp stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $15.76, for a total value of $110,320.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Edward J. Merritt sold 2,800 shares of Meridian Bancorp stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $15.80, for a total transaction of $44,240.00. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Meridian Bancorp by 8.3% in the fourth quarter. BlackRock Inc. now owns 4,063,915 shares of the savings and loans company’s stock worth $58,195,000 after acquiring an additional 310,533 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Meridian Bancorp by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,957,866 shares of the savings and loans company’s stock worth $42,357,000 after purchasing an additional 194,621 shares in the last quarter. Vanguard Group Inc increased its stake in shares of Meridian Bancorp by 1.3% in the third quarter. Vanguard Group Inc now owns 2,353,828 shares of the savings and loans company’s stock worth $40,015,000 after purchasing an additional 29,087 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Meridian Bancorp by 1.3% in the third quarter. Vanguard Group Inc. now owns 2,353,828 shares of the savings and loans company’s stock worth $40,015,000 after purchasing an additional 29,087 shares in the last quarter. Finally, Impax Asset Management Group plc increased its stake in shares of Meridian Bancorp by 8.1% in the fourth quarter. Impax Asset Management Group plc now owns 1,333,086 shares of the savings and loans company’s stock worth $19,090,000 after purchasing an additional 100,000 shares in the last quarter. 64.84% of the stock is currently owned by institutional investors and hedge funds.

About Meridian Bancorp

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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