Meridian Bancorp (EBSB) Upgraded to “Strong-Buy” by BidaskClub

BidaskClub upgraded shares of Meridian Bancorp (NASDAQ:EBSB) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

EBSB has been the subject 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. Finally, ValuEngine raised shares of Meridian Bancorp from a sell rating to a hold rating in a research note on Monday, May 13th.

Shares of EBSB opened at $17.04 on Tuesday. The firm has a market cap of $926.28 million, a PE ratio of 16.08 and a beta of 0.53. Meridian Bancorp has a 12-month low of $13.67 and a 12-month 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.

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

Large investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC purchased a new stake in Meridian Bancorp in the fourth quarter worth about $34,000. Baystate Wealth Management LLC lifted its stake in Meridian Bancorp by 201.7% in the fourth quarter. Baystate Wealth Management LLC now owns 6,028 shares of the savings and loans company’s stock worth $94,000 after acquiring an additional 4,030 shares during the period. Legal & General Group Plc lifted its stake in Meridian Bancorp by 10.3% in the fourth quarter. Legal & General Group Plc now owns 8,597 shares of the savings and loans company’s stock worth $123,000 after acquiring an additional 806 shares during the period. SG Americas Securities LLC purchased a new stake in Meridian Bancorp in the first quarter worth about $156,000. Finally, BNP Paribas Arbitrage SA lifted its stake in Meridian Bancorp by 508.0% in the first quarter. BNP Paribas Arbitrage SA now owns 10,008 shares of the savings and loans company’s stock worth $157,000 after acquiring an additional 8,362 shares during the period. 64.34% of the stock is owned by institutional investors.

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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