Wall Street analysts expect that Meridian Bancorp, Inc. (NASDAQ:EBSB) will announce earnings per share (EPS) of $0.21 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Meridian Bancorp’s earnings. Meridian Bancorp reported earnings of $0.18 per share during the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Meridian Bancorp will report full year earnings of $0.81 per share for the current year. For the next year, analysts anticipate that the firm will post earnings of $0.94 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Meridian Bancorp.
Meridian Bancorp (NASDAQ:EBSB) last announced its earnings results on Tuesday, July 25th. The savings and loans company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. Meridian Bancorp had a net margin of 22.50% and a return on equity of 6.77%. The business had revenue of $40.49 million during the quarter.
A number of research firms have recently issued reports on EBSB. Keefe, Bruyette & Woods restated a “hold” rating and issued a $19.00 price target on shares of Meridian Bancorp in a research report on Thursday, August 31st. Piper Jaffray Companies restated a “hold” rating on shares of Meridian Bancorp in a research report on Wednesday, July 26th. BidaskClub downgraded shares of Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Compass Point upgraded shares of Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Monday, June 26th.
Shares of Meridian Bancorp (EBSB) traded up 1.83% during midday trading on Tuesday, hitting $19.45. 307,582 shares of the stock were exchanged. Meridian Bancorp has a 12-month low of $15.23 and a 12-month high of $20.55. The company has a market cap of $992.01 million, a PE ratio of 24.94 and a beta of 0.26. The firm has a 50-day moving average price of $18.10 and a 200-day moving average price of $17.48.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 19th were given a $0.04 dividend. The ex-dividend date of this dividend was Monday, September 18th. This represents a $0.16 annualized dividend and a yield of 0.82%. Meridian Bancorp’s dividend payout ratio is presently 20.00%.
In other news, EVP Frank Romano acquired 3,785 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average cost of $17.69 per share, for a total transaction of $66,956.65. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James G. Sartori sold 1,500 shares of Meridian Bancorp stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $17.36, for a total transaction of $26,040.00. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Bain Capital Public Equity Management LLC bought a new stake in shares of Meridian Bancorp during the 2nd quarter worth about $4,056,000. Goldman Sachs Group Inc. raised its position in shares of Meridian Bancorp by 189.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 239,935 shares of the savings and loans company’s stock worth $4,391,000 after buying an additional 157,172 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Meridian Bancorp during the 2nd quarter worth about $2,234,000. TIAA CREF Investment Management LLC raised its position in shares of Meridian Bancorp by 5.9% during the 1st quarter. TIAA CREF Investment Management LLC now owns 185,745 shares of the savings and loans company’s stock worth $3,399,000 after buying an additional 10,306 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Meridian Bancorp by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 2,096,411 shares of the savings and loans company’s stock worth $38,364,000 after buying an additional 141,534 shares in the last quarter. Institutional investors own 64.69% 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.
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