Legal & General Group Plc lifted its holdings in Meridian Bancorp, Inc. (NASDAQ:EBSB) by 3.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,312 shares of the savings and loans company’s stock after purchasing an additional 388 shares during the period. Legal & General Group Plc’s holdings in Meridian Bancorp were worth $208,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in shares of Meridian Bancorp by 189.9% in 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 purchasing an additional 157,172 shares during the period. TIAA CREF Investment Management LLC lifted its position in shares of Meridian Bancorp by 5.9% in 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 purchasing an additional 10,306 shares during the period. Vanguard Group Inc. lifted its position in shares of Meridian Bancorp by 7.2% in 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 purchasing an additional 141,534 shares during the period. Sei Investments Co. lifted its position in shares of Meridian Bancorp by 5.8% in the 1st quarter. Sei Investments Co. now owns 5,918 shares of the savings and loans company’s stock worth $108,000 after purchasing an additional 325 shares during the period. Finally, Dupont Capital Management Corp lifted its position in shares of Meridian Bancorp by 57.4% in the 2nd quarter. Dupont Capital Management Corp now owns 75,443 shares of the savings and loans company’s stock worth $1,275,000 after purchasing an additional 27,519 shares during the period. 64.69% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Frank Romano purchased 3,785 shares of the stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $17.69 per share, for a total transaction of $66,956.65. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James G. Sartori sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was 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. Insiders own 5.10% of the company’s stock.
Several brokerages have recently weighed in on EBSB. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Meridian Bancorp in a research report on Wednesday, July 26th. BidaskClub cut shares of Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Compass Point raised shares of Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Monday, June 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.00 price target on shares of Meridian Bancorp in a research report on Thursday, August 31st.
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Shares of Meridian Bancorp, Inc. (NASDAQ EBSB) opened at 19.25 on Friday. The stock has a market cap of $981.81 million, a PE ratio of 24.68 and a beta of 0.26. The company’s 50-day moving average is $18.28 and its 200-day moving average is $17.52. Meridian Bancorp, Inc. has a 52-week low of $15.23 and a 52-week high of $20.55.
Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings results on Tuesday, July 25th. The savings and loans company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04. Meridian Bancorp had a net margin of 22.50% and a return on equity of 6.77%. The company had revenue of $40.49 million during the quarter. Equities analysts anticipate that Meridian Bancorp, Inc. will post $0.82 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 19th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Monday, September 18th. Meridian Bancorp’s dividend payout ratio (DPR) is presently 20.00%.
Meridian Bancorp Company Profile
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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