Meridian Bancorp (EBSB) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Meridian Bancorp (NASDAQ:EBSB) from a sell rating to a hold rating in a research note issued to investors on Monday, ValuEngine reports.

Several other research firms have also commented on EBSB. BidaskClub raised shares of Meridian Bancorp from a hold rating to a buy rating in a research report on Tuesday, April 30th. Zacks Investment Research raised shares of Meridian Bancorp from a hold rating to a strong-buy rating and set a $19.00 price target for the company in a research report on Friday, April 26th. Finally, Hovde Group reaffirmed a hold rating and set a $15.00 price target on shares of Meridian Bancorp in a research report on Monday, January 28th.

Shares of NASDAQ:EBSB opened at $17.27 on Monday. Meridian Bancorp has a fifty-two week low of $13.67 and a fifty-two week high of $20.30. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $926.28 million, a price-to-earnings ratio of 16.29 and a beta of 0.53.

Meridian Bancorp (NASDAQ:EBSB) last issued its earnings results on Tuesday, April 23rd. The savings and loans company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. Meridian Bancorp had a return on equity of 8.70% and a net margin of 23.48%. The business had revenue of $46.43 million during the quarter, compared to analyst estimates of $46.00 million. Sell-side analysts forecast that Meridian Bancorp will post 1.26 earnings per share for the current year.

Several large investors have recently made changes to their positions in EBSB. Quantamental Technologies LLC bought a new position in shares of Meridian Bancorp during the 4th quarter valued at approximately $34,000. Baystate Wealth Management LLC grew its stake in shares of Meridian Bancorp by 201.7% during the 4th quarter. Baystate Wealth Management LLC now owns 6,028 shares of the savings and loans company’s stock valued at $94,000 after acquiring an additional 4,030 shares during the period. Legal & General Group Plc boosted its stake in Meridian Bancorp by 10.3% in the 4th quarter. Legal & General Group Plc now owns 8,597 shares of the savings and loans company’s stock worth $123,000 after purchasing an additional 806 shares during the period. SG Americas Securities LLC bought a new position in Meridian Bancorp in the 1st quarter worth approximately $156,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Meridian Bancorp by 508.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,008 shares of the savings and loans company’s stock worth $157,000 after purchasing an additional 8,362 shares during the period. Institutional investors own 64.34% of the company’s stock.

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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