Meridian Bancorp (EBSB) Given Coverage Optimism Rating of 0.31

Media coverage about Meridian Bancorp (NASDAQ:EBSB) has trended positive this week, according to Alpha One. Alpha One, a subsidiary of Accern, identifies positive and negative news coverage by monitoring more than 20 million blog and news sources. Alpha One ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Meridian Bancorp earned a coverage optimism score of 0.31 on Alpha One’s scale. Alpha One also assigned media headlines about the savings and loans company an impact score of 0 out of 100, indicating that recent news coverage is extremely unlikely to have an effect on the company’s share price in the near future.

Shares of Meridian Bancorp (NASDAQ:EBSB) opened at 16.50 on Friday. The company has a market cap of $840.66 million, a PE ratio of 23.91 and a beta of 0.29. Meridian Bancorp has a 52 week low of $13.66 and a 52 week high of $20.55. The company has a 50 day moving average price of $17.81 and a 200 day moving average price of $18.22.

EBSB has been the topic of a number of research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $20.00 target price on shares of Meridian Bancorp in a report on Wednesday, April 5th. Piper Jaffray Companies boosted their price target on Meridian Bancorp from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th.

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In other news, Director Gregory F. Natalucci sold 4,600 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $18.91, for a total value of $86,986.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James G. Sartori sold 8,835 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $19.31, for a total value of $170,603.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,651 shares of company stock valued at $415,255. Company insiders own 5.10% of the company’s stock.

About Meridian Bancorp

Meridian Bancorp Inc, formerly Meridian Interstate Bancorp, Inc, is a mid-tier stock holding company of East Boston Savings Bank (the Bank). The Bank is a state-chartered stock savings bank that operates from 24 full-service locations and two loan centers in the Boston metropolitan area. East Boston Savings Bank operates eight of its full-service locations and a loan center under the name Mt.

12 Month Chart for NASDAQ:EBSB

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