Dimensional Fund Advisors LP grew its holdings in shares of Meridian Bancorp Inc (NASDAQ:EBSB) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,957,866 shares of the savings and loans company’s stock after buying an additional 194,621 shares during the quarter. Dimensional Fund Advisors LP owned 5.46% of Meridian Bancorp worth $42,357,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Prudential Financial Inc. grew its stake in Meridian Bancorp by 9.0% during the fourth quarter. Prudential Financial Inc. now owns 11,440 shares of the savings and loans company’s stock worth $164,000 after buying an additional 945 shares during the period. Bank of Montreal Can boosted its stake in shares of Meridian Bancorp by 9.4% in the fourth quarter. Bank of Montreal Can now owns 17,845 shares of the savings and loans company’s stock valued at $256,000 after purchasing an additional 1,529 shares during the period. Citigroup Inc. boosted its stake in shares of Meridian Bancorp by 18.4% in the fourth quarter. Citigroup Inc. now owns 15,249 shares of the savings and loans company’s stock valued at $218,000 after purchasing an additional 2,372 shares during the period. Quantamental Technologies LLC purchased a new position in shares of Meridian Bancorp in the fourth quarter valued at $34,000. Finally, Anchor Capital Advisors LLC boosted its stake in shares of Meridian Bancorp by 4.7% in the fourth quarter. Anchor Capital Advisors LLC now owns 61,364 shares of the savings and loans company’s stock valued at $879,000 after purchasing an additional 2,768 shares during the period. Institutional investors own 64.81% of the company’s stock.
Several brokerages have recently weighed in on EBSB. Zacks Investment Research downgraded shares of Meridian Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Hovde Group restated a “hold” rating and issued a $15.00 target price on shares of Meridian Bancorp in a research note on Monday, January 28th. Finally, BidaskClub cut shares of Meridian Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, March 22nd.
Meridian Bancorp (NASDAQ:EBSB) last released its quarterly earnings results on Tuesday, April 23rd. The savings and loans company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $46.43 million during the quarter, compared to analyst estimates of $46.00 million. Meridian Bancorp had a net margin of 23.48% and a return on equity of 8.75%. Sell-side analysts expect that Meridian Bancorp Inc will post 1.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Tuesday, March 19th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.28 annualized dividend and a dividend yield of 1.64%. Meridian Bancorp’s dividend payout ratio is currently 26.42%.
In other news, EVP Edward J. Merritt sold 2,800 shares of the company’s stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $15.80, for a total transaction of $44,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory F. Natalucci sold 7,000 shares of the company’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $15.76, for a total transaction of $110,320.00. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.
Meridian Bancorp Company 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 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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