Commonwealth Equity Services LLC grew its holdings in shares of Meridian Bancorp Inc (NASDAQ:EBSB) by 55.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,265 shares of the savings and loans company’s stock after purchasing an additional 35,150 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.18% of Meridian Bancorp worth $1,407,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of Meridian Bancorp by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,110,375 shares of the savings and loans company’s stock worth $18,877,000 after acquiring an additional 39,338 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Meridian Bancorp by 71.1% in the 3rd quarter. Alliancebernstein L.P. now owns 128,717 shares of the savings and loans company’s stock worth $2,188,000 after acquiring an additional 53,507 shares during the period. Thomson Horstmann & Bryant Inc. lifted its stake in shares of Meridian Bancorp by 30.6% in the 3rd quarter. Thomson Horstmann & Bryant Inc. now owns 370,644 shares of the savings and loans company’s stock worth $6,300,000 after acquiring an additional 86,950 shares during the period. BlackRock Inc. lifted its stake in shares of Meridian Bancorp by 2.1% in the 3rd quarter. BlackRock Inc. now owns 3,753,382 shares of the savings and loans company’s stock worth $63,807,000 after acquiring an additional 75,549 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Meridian Bancorp by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,763,245 shares of the savings and loans company’s stock worth $46,975,000 after acquiring an additional 86,367 shares during the period. 64.05% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:EBSB opened at $15.81 on Friday. The company has a market capitalization of $846.09 million, a PE ratio of 14.92 and a beta of 0.51. Meridian Bancorp Inc has a twelve month low of $13.67 and a twelve month high of $20.75. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.80.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Tuesday, March 19th will be issued a $0.07 dividend. The ex-dividend date is Monday, March 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.77%. Meridian Bancorp’s payout ratio is currently 26.42%.
In related news, Director Gregory F. Natalucci sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $15.76, for a total value of $110,320.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Edward J. Merritt sold 2,800 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $15.80, for a total transaction of $44,240.00. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
A number of brokerages have recently weighed in on EBSB. BidaskClub raised shares of Meridian Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Zacks Investment Research raised shares of Meridian Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Friday, January 18th. Finally, Hovde Group reaffirmed a “hold” rating and issued a $15.00 price target on shares of Meridian Bancorp in a research note on Monday, January 28th.
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Meridian Bancorp 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 Essex, Middlesex, Norfolk, and Suffolk 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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