Meridian Bancorp (EBSB) Hits New 1-Year High at $20.80

Meridian Bancorp, Inc. (NASDAQ:EBSB) hit a new 52-week high on Tuesday . The company traded as high as $20.80 and last traded at $20.75, with a volume of 292300 shares changing hands. The stock had previously closed at $20.30.

A number of equities research analysts recently weighed in on the stock. BidaskClub lowered shares of Meridian Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $19.00 price objective on shares of Meridian Bancorp in a report on Thursday, August 31st.

The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market cap of $1,122.58, a price-to-earnings ratio of 23.91 and a beta of 0.27.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Tuesday, December 19th will be given a $0.05 dividend. The ex-dividend date is Monday, December 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.96%. This is an increase from Meridian Bancorp’s previous quarterly dividend of $0.04. Meridian Bancorp’s payout ratio is presently 22.99%.

In other Meridian Bancorp news, Director Marilyn A. Censullo sold 11,929 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $19.95, for a total transaction of $237,983.55. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard F. Fernandez sold 14,801 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $19.75, for a total transaction of $292,319.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,420 shares of company stock worth $826,454. Insiders own 5.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its stake in Meridian Bancorp by 2,313.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,938 shares of the savings and loans company’s stock valued at $100,000 after acquiring an additional 5,692 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Meridian Bancorp in the 2nd quarter valued at $126,000. Banc Funds Co. LLC acquired a new position in shares of Meridian Bancorp in the 2nd quarter valued at $169,000. Wolverine Trading LLC acquired a new position in shares of Meridian Bancorp in the 2nd quarter valued at $173,000. Finally, Prudential Financial Inc. acquired a new position in shares of Meridian Bancorp in the 2nd quarter valued at $178,000. Institutional investors and hedge funds own 66.13% of the company’s stock.

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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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